Used primarily as a solvent in various industrial applications, it is effective in dissolving resins, oils, and other organic compounds. It is commonly employed in the production of coatings, paints, and varnishes due to its ability to improve flow and leveling properties. Additionally, it serves as a reaction medium in chemical synthesis, particularly in the preparation of specialty chemicals and pharmaceuticals. Its relatively low toxicity and volatility make it suitable for use in formulations requiring controlled evaporation rates. It is also utilized in cleaning agents and degreasers for its ability to remove stubborn contaminants from surfaces.