Used in the synthesis of biodegradable polymers and specialty esters for cosmetics and pharmaceuticals. Acts as a building block in the production of lactones and polyhydroxyalkanoates (PHAs), which are important in eco-friendly plastic development. Also employed in dermatological formulations due to its skin-conditioning properties and ability to support skin barrier function. Its hydroxyl and carboxylic acid groups allow for chemical modifications in creating surfactants and emollients with low irritation potential.