Used in pharmaceuticals as a solubilizing agent to enhance the solubility of poorly soluble drugs, improving their bioavailability. It also serves as a stabilizer in drug formulations, preventing degradation. In cosmetics, it acts as an emulsifier and moisturizer, helping to blend ingredients and retain skin hydration. Additionally, it is utilized in organic synthesis as a protective group for alcohols, enabling selective reactions in complex chemical processes. Its versatility makes it valuable in various industrial applications.