Used in the synthesis of biodegradable polymers and specialty esters for cosmetics and skincare products due to its hydrophilic phenolic group and aliphatic chain. Acts as a building block in creating prodrugs and drug delivery systems, where the hydroxyl group allows for easy modification and conjugation. Also explored in the development of bio-based plasticizers and resins, offering improved flexibility and thermal stability. Its structure supports antioxidant properties, making it useful in formulations requiring oxidative stability.