This chemical solution is primarily used in industrial applications as a solvent for various substances, including oils, resins, waxes, and rubber. It is particularly effective in the production of varnishes and paints, where it helps dissolve and blend components to create a uniform mixture. Additionally, it is utilized in the extraction of specific compounds from natural sources due to its strong solvency properties. In some cases, it serves as an intermediate in the synthesis of other chemicals, contributing to the manufacturing of products like refrigerants and pesticides. However, its use is often regulated due to potential health and environmental hazards, requiring careful handling and disposal.