Used as an intermediate in organic synthesis, particularly in the production of specialty polymers and coatings. Its hydroxyl and ester functionalities allow for cross-linking reactions, making it valuable in developing resins with enhanced flexibility and adhesion. Also employed in the formulation of UV-curable systems due to its ability to participate in radical polymerization. Additionally, it serves as a building block in synthesizing biodegradable esters for environmentally friendly solvents and plasticizers.