Used as a key intermediate in the synthesis of fragrances and flavor compounds due to its reactive epoxide group, which allows for ring-opening reactions to form alcohols, diols, and other derivatives. Commonly employed in the production of pine-scented aroma chemicals and in the development of biobased polymers. Also investigated as a precursor in the preparation of pharmaceuticals and agrochemicals. Its ability to undergo acid-catalyzed rearrangements makes it valuable in terpene chemistry for generating complex natural product skeletons.