The sweetgum is a valuable commercial hardwood - second in production only to oaks among the hardwoods. The wood of sweetgum is used for many purposes, particularly veneer, furniture, flooring, interior trim, and woodenware.

The wood has been distributed and sold under the trade name of "satin-walnut." The wood is also used as paper pulp and to make baskets. Pioneers once peeled the bark and scraped the resin-like solid to produce chewing gum.

Sweetgum is a favorite ornamental and landscape tree due to its beautiful, glossy leaves, brilliant fall color, and because it makes a good shade tree.