Used primarily as a solvent in various industrial applications, it is effective in dissolving resins, oils, and other organic compounds. It is often employed in the formulation of coatings, adhesives, and cleaning agents due to its ability to enhance product stability and performance. Additionally, it serves as an intermediate in the synthesis of specialty chemicals, including pharmaceuticals and agrochemicals. Its unique properties make it suitable for use in high-performance materials and as a reaction medium in organic synthesis.