Used as a solvent in the production of varnishes, perfumes, and pharmaceuticals due to its ability to dissolve both polar and non-polar substances. Commonly employed in the preparation of tinctures and extracts in the food and herbal industries. Serves as a disinfectant in medical and laboratory settings, effective against a wide range of microorganisms. Utilized as a fuel or fuel additive, especially in gasoline blends, to reduce emissions and improve octane ratings. Also acts as an intermediate in the synthesis of other chemicals such as acetaldehyde, ethyl acetate, and ethylene.