This chemical is primarily used as an intermediate in the synthesis of various pharmaceuticals and organic compounds. It is particularly valuable in the production of drug delivery systems, where its structure allows for the modification of solubility and bioavailability of active pharmaceutical ingredients. Additionally, it finds application in the development of polymers and surfactants, contributing to the creation of materials with specific properties such as enhanced flexibility, stability, or surface activity. Its role in the formulation of personal care products, including cosmetics and skincare items, is also notable, where it helps in achieving desired texture and consistency.