Used as an emulsifier in food products to stabilize mixtures of oil and water, improving texture and shelf life. It is also employed in cosmetics and personal care items, where it acts as a moisturizer and helps to maintain the consistency of creams and lotions. In pharmaceuticals, it serves as an excipient, aiding in the formulation of drugs by enhancing their solubility and stability. Additionally, it is utilized in industrial applications as a lubricant and in the production of plastics to improve flexibility and durability.