This compound is utilized in biochemical and molecular biology research to study fatty acid metabolism processes, particularly in bacteria and other microorganisms. It is primarily used in the production of biodegradable polymers, particularly polyhydroxyalkanoates (PHAs), which serve as sustainable alternatives to traditional plastics. As a monomer in the synthesis of these polymers, it contributes to their structural properties and biodegradability. Additionally, it finds application in the development of bio-based materials for medical devices, such as sutures and drug delivery systems, due to its biocompatibility. In the cosmetic industry, it is incorporated into formulations for its moisturizing and skin-conditioning properties. It is also explored in research for its potential as a precursor in the synthesis of fine chemicals and specialty materials.