Used primarily as a solvent in various industrial applications, it is effective in dissolving a wide range of substances, making it valuable in the production of inks, coatings, and adhesives. In the cosmetic and personal care industry, it serves as a humectant and viscosity adjuster, helping to retain moisture and improve the texture of products like lotions, creams, and serums. Additionally, it is utilized in the food industry as a flavoring agent and solvent for food additives. Its low toxicity and stability also make it suitable for use in pharmaceuticals as a drug delivery agent and excipient. It is also employed as an important intermediate in the production of plastics and resins. Furthermore, it is being explored as a potential biofuel component due to its renewable and biodegradable properties.