Ethyl palmitate is widely used in the cosmetics and personal care industry as an emollient and skin-conditioning agent. It helps to soften and smooth the skin by forming a protective barrier that locks in moisture, making it a common ingredient in creams, lotions, and moisturizers.

In the pharmaceutical industry, it serves as an excipient in drug formulations, aiding in the delivery of active ingredients and improving the texture of topical medications.

Additionally, ethyl palmitate is utilized in the production of biodiesel, where it acts as a biofuel component due to its fatty acid ester properties.

It also finds application in the food industry as a flavoring agent and in the production of food-grade lubricants. Its versatility and compatibility with various formulations make it a valuable compound across multiple sectors.