Used primarily as an intermediate in organic synthesis, this compound serves in the production of fragrances and flavoring agents due to its volatile, unsaturated hydrocarbon nature. Its structure allows for selective reactions such as hydrogenation, epoxidation, or hydroformylation, making it valuable in creating alcohols, aldehydes, or other functionalized derivatives used in fine chemicals. It may also appear in research settings for studying reaction mechanisms involving alkenes or isomerization processes.