Used as an intermediate in the synthesis of specialty chemicals, particularly in the production of polymers and resins. It plays a role in creating high-performance materials with enhanced durability and flexibility. Additionally, it is employed in the formulation of lubricants and plasticizers, improving their efficiency and stability. In the cosmetics industry, it is utilized in the development of emollients and skin-conditioning agents. Its application extends to the pharmaceutical sector, where it serves as a building block for drug delivery systems and active pharmaceutical ingredients.