Used primarily in pharmaceutical and cosmetic formulations as a skin conditioning agent and emollient. It helps improve the texture and stability of creams and lotions by enhancing moisture retention and providing a smooth application feel. Also serves as a solubilizing agent in liposomal drug delivery systems, aiding in the encapsulation and controlled release of active ingredients. Its structural similarity to natural skin lipids makes it suitable for use in dermatological products targeting dry or damaged skin. Additionally, it is employed in research settings as a model compound for studying lipid metabolism and enzymatic activity in triglyceride breakdown.