Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of fine chemicals and pharmaceuticals. Its strained epoxide ring readily undergoes ring-opening reactions with nucleophiles, making it valuable for introducing functional groups into more complex molecules. It is also employed in the synthesis of surfactants, polymers, and specialty solvents. Due to its reactivity, it serves as a building block in creating alcohols, diols, and other oxygen-containing compounds through catalytic or acid-mediated transformations.