Used as an intermediate in the synthesis of specialty chemicals, particularly in the production of dyes, fragrances, and antioxidants. It serves as a solvent for resins and polymers due to its low polarity and high boiling point. Also employed in the formulation of coatings, adhesives, and printing inks where slow evaporation is required. Its structure allows for functionalization in organic reactions, making it valuable in research and development of new chemical products.