This chemical is widely used in research and development within the field of lipid biochemistry and membrane studies. It serves as a model phospholipid to mimic biological membranes, aiding in the study of lipid bilayer properties, membrane dynamics, and interactions with proteins or other biomolecules. It is also utilized in the formulation of liposomes and other drug delivery systems, where its structure helps in creating stable, biocompatible carriers for therapeutic agents. Additionally, it finds application in cosmetic and pharmaceutical industries as an emulsifying agent, contributing to the stability and texture of creams, lotions, and other formulations.