Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of specialty esters and fragrances due to its ketone and ester functional groups. Its long alkyl chain contributes to lipophilicity, making it suitable for applications in cosmetic formulations and skin-conditioning agents. It is also employed in the synthesis of bioactive molecules and pharmaceuticals where a fatty chain with a beta-keto functionality is required. Additionally, it can act as a building block in the development of lubricants and surfactants with tailored properties.