Used primarily as a solvent in various industrial applications, it is effective in dissolving resins, coatings, and inks, making it valuable in the paint and coatings industry. It also serves as an intermediate in organic synthesis, aiding in the production of complex chemical compounds. Additionally, its properties make it suitable for use in flavor and fragrance formulations, contributing to the creation of specific scents and tastes. In research and development, it is utilized for its reactivity and compatibility in experimental chemical processes.