This chemical is widely used in the pharmaceutical industry as a stabilizing agent and excipient in drug formulations. It helps enhance the solubility and bioavailability of poorly water-soluble drugs, making it valuable in oral and topical medications. In the cosmetics industry, it serves as a thickening agent and film-former in skincare and haircare products, providing texture and improving product performance. Additionally, it is utilized in adhesives and coatings due to its excellent binding properties and ability to form durable films. Its water-soluble nature also makes it suitable for use in detergents and cleaning agents, where it aids in soil suspension and prevents redeposition.