Used as a lubricant and release agent in the plastics and rubber industries, helping to improve processing and prevent sticking during molding operations. Commonly employed in the production of polyvinyl chloride (PVC) and other polymers to enhance thermal stability and dispersion of additives. Also utilized in cosmetics and pharmaceuticals as a binder and emulsifying agent in creams, ointments, and tablets. Serves as a water repellent in textile finishing and in the formulation of metalworking fluids for improved lubricity. Additionally, it functions as a catalyst or intermediate in organic synthesis, particularly in esterification and acylation reactions.