Used primarily as a solvent in various industrial processes, it plays a key role in the production of polymers and resins. It is also utilized in the synthesis of pharmaceuticals, where it serves as an intermediate in the creation of complex organic compounds. Additionally, it finds application in the formulation of adhesives, coatings, and inks due to its ability to dissolve a wide range of substances. In laboratories, it is often employed as a reagent for organic synthesis, aiding in the development of new chemical entities. Its versatility makes it valuable in both industrial and research settings.