Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of fragrances and flavoring agents due to its ability to form esters with pleasant odors. It is also employed in the preparation of fatty acid derivatives and surfactants, where its long aliphatic chain contributes to hydrophobic properties. In pharmaceutical manufacturing, it serves as an acylating agent for the synthesis of active ingredients and prodrugs, especially those requiring lipophilic character for improved membrane permeability. Additionally, it finds use in polymer chemistry for modifying resins and creating specialty coatings with enhanced water resistance.