Used primarily as an intermediate in organic synthesis, this compound serves in the production of long-chain alkylating agents and surfactants. Its reactivity allows for the introduction of the eicosyl group in pharmaceuticals and agrochemicals. It is also employed in research settings to modify lipid structures and study membrane behavior due to its extended hydrophobic chain. Additionally, it can act as a precursor in the synthesis of specialty waxes and lubricants where thermal stability and low polarity are required.