Used in the production of alkyd resins for paints and coatings, enhancing drying properties and film formation. Acts as a reactive diluent in polymer formulations, reducing viscosity without compromising performance. Employed in the synthesis of bio-based plasticizers to improve flexibility and durability of polymers. Investigated for use in renewable lubricants due to its biodegradability and low toxicity. Also utilized in research on omega-3 fatty acid derivatives for potential nutritional and pharmaceutical applications.