Balsam resins, like those from Balsam of Peru, Balsam of Tolu, and Canada balsam, have diverse uses, including medicinal applications, in perfumery, as fixatives, and in optical and artistic applications.

Medicinal Uses:
Balsam of Peru: Used as an antiseptic for burns and wounds, an expectorant, and a heart stimulant. It is also found in cough syrups, lozenges, chewing gum, and candies.
Balsam of Tolu: Used in cough syrups and lozenges, as well as in perfumery.
Traditional Uses: Balsam resins have been used historically to treat a variety of ailments, including burns, sores, cuts, tumors, heart and chest pains, cancer, mucous membrane swelling, colds, coughs, warts, wounds, and as a pain-reliever.
Balsam fir resin: Can be used for burns, cuts, and sores.
Balsam fir oil: Can be used to create bath salts, facial mists, hair care elixirs, and aromatherapy massage blends

Other Uses:
Perfumery: Balsam resins are used as fixatives and fragrance components in perfumes and cosmetics.
Incense: Certain aromatic balsams are incorporated into incense preparations.
Optical Applications: Canada balsam is used in microscope slides and high-precision optical lens assemblies.
Artistic Applications: Canada balsam can be used as a plasticizer for varnish and paint, and to fix scratches in glass.
Fire-lighting: Balsam fir resin can be used to help ignite damp tinder
Bushcraft: Balsam fir resin can be used as a natural antiseptic and to treat cuts and sores
Traditional Uses by Indigenous Peoples: The sappy resin from balsam fir blisters can be used as a toothpaste, glue, and to prevent infection to minor cuts and bites.

CUTS, BURNS & FIRES.
CUTS. The sheer stickiness of balsam fir resin can, when applied to a small cut, staunch bleeding.
BURNS. Another great application of resin is for burns.
FIRE-STARTER. Resin is flammable and makes an outstanding, fire-starting aid.

Canada balsam, larch balsam, and copaiba balsam are often mistakenly called “balsams,” but they are actually oleoresins, not true balsams, which are characterized by containing cinnamic and benzoic acids.
Here’s a more detailed explanation:
What are True Balsams?
True balsams are resinous mixtures that contain large proportions of cinnamic acid, benzoic acid, or both, or esters of these acids. Examples of true balsams include Balsam of Peru and Balsam of Tolu.
What are Oleoresins?
Oleoresins are natural products consisting of a resin dissolved in an essential oil. Canada balsam, larch balsam, and copaiba balsam fall into this category.
Why are they not true balsams?
While they are aromatic and resinous, they lack the defining characteristic of true balsams: the presence of cinnamic and benzoic acids.

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