This chemical is primarily used as a solvent in various industrial applications due to its ability to dissolve a wide range of substances. It is often employed in the formulation of coatings, paints, and varnishes, where it helps improve the consistency and application properties of these products. Additionally, it serves as an intermediate in the synthesis of other chemical compounds, particularly in the production of specialty chemicals and pharmaceuticals. Its properties make it suitable for use in cleaning agents and degreasers, where it effectively removes oils, greases, and other contaminants from surfaces. In the electronics industry, it is utilized in the manufacturing process of semiconductors and other components, where its solvent properties aid in the precise application of materials.