Palmitic acid is a fatty acid found naturally in the skin, as well as in palm oil, palm kernel oil, butter, cheese and meat. It is the most common fatty acid found in animals, plants and microorganisms. It is used as a base for many palmitate ingredients, such as isopropyl palmitate. Palmitic acid has many functions in cosmetics, such as a cleaning agent and an emollient. In moisturizers, palmitic acid is a very good emollient, while its emulsifying abilities help prevent disparate ingredients from separating.
Palmitic acid has been determined safe for use in cosmetics when used in concentrations up to 13%. https://www.paulaschoice.com/ingredient-dictionary/ingredient-palmitic-acid.html?q=Palmitic%20Acid&fdid=ingredients