Used in the synthesis of specialty chemicals and intermediates, particularly in the production of polymers and resins. It serves as a precursor for creating biodegradable lubricants and surfactants due to its long hydrocarbon chain. In the pharmaceutical industry, it is utilized in the development of bioactive compounds and drug delivery systems. Additionally, it finds application in the cosmetic industry for formulating skin care products, where it acts as an emollient and moisturizer. Its unsaturated nature makes it valuable in organic synthesis for reactions like hydrogenation and oxidation.