This critical review deals with the chemistry and applications of metal alkanoates with medium size (C5 to C12) carbon chain length. A particular emphasis is given to metal 2-ethylhexanoates, which find wide applications as metal-organic precursors in materials science, as catalysts for ring opening polymerizations and also in painting industries for their properties as driers. After a brief introduction and an overview of synthesis, structural and physico-chemical properties, this article discuses extensively the applications of these compounds in materials science. Finally, it identifies and signifies the areas for future research in the looking ahead section. The aim of this review is to bridge the areas of precursor's chemistry and materials science by providing a reference text for researchers working either in or at the interface of these two areas (125 references).