Used primarily in the fragrance and flavor industry, it imparts a creamy, coconut-like aroma, making it a popular choice for perfumes, cosmetics, and food flavorings. Its lactone structure also makes it valuable in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Additionally, it serves as a solvent and intermediate in various chemical processes, contributing to the development of polymers and other industrial materials. Its versatility and pleasant scent make it a key component in both consumer and industrial applications.