This chemical is widely used in the formulation of liposomes and lipid-based drug delivery systems due to its amphiphilic nature, which allows it to form stable bilayers. It is particularly valuable in creating carriers for targeted drug delivery, enhancing the solubility and bioavailability of poorly water-soluble drugs. Additionally, it is employed in research studies to mimic biological membranes, aiding in the understanding of membrane dynamics and interactions. Its application extends to cosmetic formulations, where it acts as an emulsifier and skin-conditioning agent, improving texture and moisture retention in skincare products.