This compound is primarily used in research and development within the field of lipidomics and membrane biology. It serves as a model phospholipid to study the behavior and properties of cell membranes, aiding in understanding lipid-lipid and lipid-protein interactions. It is also utilized in the formulation of liposomes for drug delivery systems, enhancing the stability and efficacy of encapsulated therapeutic agents. Additionally, it finds application in cosmetics and skincare products, where it acts as an emollient and helps maintain skin barrier function by mimicking natural lipids. Its role in creating artificial membranes further supports studies in biophysics and biochemistry.