This chemical is primarily utilized in the formulation of industrial lubricants and greases, where it enhances performance under high-pressure and high-temperature conditions. It is also employed as an additive in metalworking fluids to improve cutting efficiency and reduce wear on tools. Additionally, it finds application in the production of synthetic esters, which are used in biodegradable lubricants and environmentally friendly hydraulic fluids. Its properties make it suitable for use in the automotive industry, particularly in engine oils and transmission fluids, where it aids in reducing friction and extending the lifespan of mechanical components.