Used extensively as a solvent in the production of resins, dyes, and coatings due to its ability to dissolve a wide range of organic compounds. It is also employed in the synthesis of specialty chemicals and as a reaction medium in various organic transformations. In the petrochemical industry, it serves as a reference compound for calibrating instruments and analyzing hydrocarbon mixtures. Additionally, it finds application in the formulation of adhesives and sealants, where its stability and solvent properties are highly valued.