This compound is primarily utilized in the field of skincare and cosmetics due to its ability to enhance the skin barrier function. It works by mimicking the natural lipids found in the skin, helping to retain moisture and improve hydration. Additionally, it is known for its soothing properties, making it effective in reducing skin irritation and redness. In hair care products, it helps to strengthen and protect hair fibers, reducing breakage and improving overall hair health. Its application in anti-aging formulations is also notable, as it aids in maintaining skin elasticity and reducing the appearance of fine lines and wrinkles.