Used in the production of specialty chemicals and fine chemicals, it serves as an intermediate in organic synthesis. It is applied in the formulation of surfactants and emulsifiers due to its amphiphilic properties, making it useful in personal care products like creams and lotions. Additionally, it finds use in the development of biodegradable lubricants and coatings, contributing to environmentally friendly industrial applications. In research, it is employed as a standard or reference compound in analytical studies, particularly in lipid analysis and metabolic pathway investigations.