Used primarily in the flavor and fragrance industry, this compound imparts a fatty, waxy, or slightly fruity aroma and is often employed in creating artificial flavors for food products. It also serves as an intermediate in the synthesis of perfumes and other organic compounds. Its structure allows for easy modification in chemical reactions, making it valuable in producing esters with desirable olfactory properties. Additionally, it has been explored in biochemical research for its potential antimicrobial properties and role in lipid metabolism studies.