Used as an emollient and moisturizing agent in cosmetics and skincare products due to its ability to soften and smooth the skin. Acts as a surfactant and opacifying agent in shampoos and liquid soaps, improving texture and appearance. Employed in the production of biodegradable lubricants and biodiesel as a fatty acid methyl ester. Serves as a chemical intermediate in the synthesis of detergents, surfactants, and other ester-based compounds. Also utilized in research as a model compound for lipid studies and in chromatography standards.