Used primarily as a solvent in the manufacturing of various chemical products, it effectively dissolves resins, plastics, and cellulose derivatives, making it valuable in the production of coatings, adhesives, and inks. In the pharmaceutical industry, it serves as an intermediate in the synthesis of active pharmaceutical ingredients, contributing to the development of medications. Additionally, it finds application in the cosmetic industry, where it is utilized in the formulation of personal care products due to its ability to enhance texture and stability. Its role in organic synthesis is also notable, as it participates in esterification and acetylation reactions, aiding in the creation of complex organic compounds.