This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the production of specialty chemicals and fine chemicals. It serves as a key intermediate in the creation of fragrances and flavoring agents due to its unique structural properties. Additionally, it is employed in the development of polymers and resins, where its hydroxyl groups facilitate cross-linking reactions, enhancing material durability and performance. In the pharmaceutical industry, it is used as a building block for drug synthesis, contributing to the development of active pharmaceutical ingredients (APIs) with potential therapeutic applications. Its versatility also extends to the field of cosmetics, where it is incorporated into formulations for its moisturizing and stabilizing properties.