Used in the synthesis of specialty lubricants and greases due to its long hydrocarbon chain and polar hydroxyl group, which provide good thermal stability and surface adhesion. It serves as a building block in the production of biodegradable polymers and surfactants, particularly in eco-friendly coatings and emulsifiers. Also investigated for its role in modifying the texture and stability of cosmetic formulations, including skin conditioners and moisturizers, where it helps enhance water retention and skin barrier function.