Used primarily in the synthesis of various chemicals, it serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting cardiovascular and central nervous system disorders. It is also employed in the manufacture of glycidyl ethers, which are essential in creating epoxy resins for coatings, adhesives, and composites. Additionally, it finds application in the production of surfactants and as a stabilizer in certain industrial processes. Its role in organic synthesis makes it valuable for creating complex molecules in research and industrial settings.