Used in lipid research to study enzyme kinetics and lipid metabolism, particularly focusing on diacylglycerol kinases and lipases. It serves as a substrate in biochemical assays to understand signaling pathways involving diacylglycerol. Applied in the development of lipid-based drug delivery systems, such as liposomes, to enhance the stability and bioavailability of therapeutic agents. Also utilized in cosmetic formulations to improve skin hydration and texture due to its emollient properties. In food science, it acts as an emulsifier to stabilize mixtures of oil and water in processed foods.