Used primarily as a solvent in various industrial applications, it is effective in coatings, paints, and varnishes due to its ability to dissolve a wide range of substances. It is also utilized in the formulation of adhesives and inks, providing good flow and leveling properties. In the pharmaceutical industry, it serves as an intermediate in the synthesis of certain drugs. Additionally, its stability and solvent properties make it suitable for use in cleaning agents and degreasers.