Used primarily as an intermediate in organic synthesis, it plays a crucial role in the production of specialty chemicals. Its application extends to the creation of polymers and resins, where it contributes to enhancing durability and flexibility. Additionally, it is utilized in the formulation of lubricants and plasticizers, improving performance and stability in various industrial processes. Its unique structure allows it to act as a building block in the development of complex organic compounds, making it valuable in advanced material science and chemical manufacturing.