This chemical is primarily used as a solvent in various industrial applications due to its excellent solvency properties and relatively low toxicity. It is particularly effective in dissolving a wide range of organic compounds, making it valuable in the formulation of coatings, paints, and adhesives. Additionally, it is employed in the production of specialty chemicals and pharmaceuticals, where its ability to facilitate reactions and purify compounds is highly beneficial. Its stability and compatibility with other chemicals also make it suitable for use in cleaning agents and degreasers. In research and development, it serves as a reagent or intermediate in synthetic processes, contributing to the creation of complex molecules.