Widely used in the production of metal carboxylates, also known as naphthenates or octoates, which serve as catalysts in coatings, paints, and driers. These metal derivatives help accelerate the curing process of alkyd resins, improving drying time and film formation. It is also employed in the synthesis of plasticizers, enhancing the flexibility and durability of polymers, especially in PVC applications. Due to its relatively low solubility in water and good solubility in organic solvents, it is suitable for use in lubricant additives and corrosion inhibitors. Additionally, it finds use in the formulation of fuel and oil additives, where it contributes to metal passivation and stability. Its esters are used in specialty applications such as in synthetic lubricants and as intermediates in organic synthesis.