Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its hydroxyl and carboxylic acid functional groups allow for derivatization into esters, amides, and lactones, which are useful building blocks in drug development. Also employed in the synthesis of biodegradable polymers and surfactants due to its amphiphilic nature. Shows potential in the formulation of skin-care products, leveraging its structural similarity to compounds involved in skin barrier function.