Used primarily as a solvent and intermediate in organic synthesis, it facilitates the production of various chemical compounds. In the pharmaceutical industry, it serves as a building block for synthesizing active pharmaceutical ingredients (APIs) and other drug-related substances. It is also employed in the manufacture of specialty chemicals, including plasticizers and resins, where it enhances flexibility and durability. Additionally, it finds application in coatings and adhesives, improving their performance and stability. Its role in crosslinking reactions is valuable in polymer chemistry, contributing to the development of advanced materials.