This chemical is primarily utilized in organic synthesis and research applications. It serves as an intermediate in the production of more complex compounds, particularly in the development of specialty chemicals and pharmaceuticals. Its structure, featuring a benzyl ester group, makes it useful for protecting carboxylic acid functionalities during multi-step synthetic processes. Additionally, it can be employed in the study of lipid metabolism and fatty acid derivatives due to its long carbon chain. Researchers also explore its potential in creating biodegradable polymers and surfactants, leveraging its unique chemical properties for innovative material design.