Used as an emulsifier in cosmetics and personal care products, helping to blend water and oil-based ingredients for stable formulations. It is also employed in the food industry to improve texture and consistency in products like margarine and spreads. In pharmaceuticals, it serves as an excipient to enhance the stability and delivery of active ingredients in creams and ointments. Additionally, it finds application in industrial lubricants and coatings for its thickening and stabilizing properties.