Used as an intermediate in the synthesis of specialty chemicals, particularly in the production of surfactants and lubricants. Its long hydrocarbon chain with dual hydroxyl groups allows for functionalization in polymer formulations, enhancing water resistance and flexibility. Also employed in cosmetic formulations as an emollient and skin-conditioning agent due to its ability to improve texture and moisturization. Additionally, it serves as a building block in the development of biodegradable esters for eco-friendly industrial applications.