Used as an intermediate in the production of other organic compounds, particularly in the synthesis of dyes, pigments, and pesticides. It serves as a heat transfer agent in industrial systems due to its thermal stability. Also employed as a solvent for oils, resins, and waxes in specialized chemical processes. Historically used in the formulation of wood preservatives and fungicides, though such applications have declined due to environmental and toxicity concerns. Occasionally utilized in laboratory settings as a reference standard or reagent in analytical chemistry.