Used as an intermediate in organic synthesis, particularly in the production of specialty chemicals and polymers. It plays a role in the development of coatings, adhesives, and lubricants due to its long carbon chain and functional groups. The compound is also utilized in the synthesis of biologically active molecules, including pharmaceuticals and agrochemicals, where its structure aids in modifying properties like solubility and stability. Additionally, it is employed in research for creating novel materials with specific mechanical or chemical characteristics.