Used as an intermediate in organic synthesis, particularly in the preparation of specialty esters and plasticizers. It acts as a building block for biodegradable polymers due to its multifunctional acetyl groups, which can undergo further chemical modifications. Commonly applied in the pharmaceutical industry for the synthesis of prodrugs and controlled-release formulations. Also utilized in cosmetic formulations as a stabilizing agent and emollient due to its moisture-retaining properties. Its low volatility and high ester content make it suitable for use in coatings and resins where flexibility and durability are required.