Used primarily as a solvent in various industrial processes due to its ability to dissolve a wide range of substances. It is also employed in the formulation of coatings and paints, where it helps in achieving the desired consistency and drying properties. In the pharmaceutical industry, it serves as an intermediate in the synthesis of more complex chemical compounds. Additionally, it finds application in the production of fragrances and flavors, contributing to the creation of specific aromatic profiles. Its stability and relatively low reactivity make it suitable for use in research and development laboratories as a reagent or reaction medium.