Used as a versatile intermediate in the synthesis of biofuels and fine chemicals, particularly in the production of renewable diesel and jet fuels. It serves as a precursor for the development of sustainable polymers and resins, contributing to eco-friendly material alternatives. Additionally, it is employed in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs) and other bioactive compounds. Its role in green chemistry is significant, as it helps reduce reliance on fossil fuel-derived raw materials.