Methyl tetracosanoate is primarily used in the production of waxes and coatings due to its ability to form a durable and protective layer. It is often incorporated into cosmetic formulations, such as lipsticks and creams, to enhance texture and provide a smooth application. In the industrial sector, it serves as a lubricant additive to improve the performance of machinery by reducing friction and wear. Additionally, it is utilized in the synthesis of specialty chemicals, where it acts as an intermediate in the creation of complex organic compounds. Its hydrophobic properties make it suitable for use in water-repellent coatings for textiles and paper products.