Used primarily as a solvent in various industrial processes, it is effective in dissolving polymers, resins, and other organic compounds. It is also utilized in the production of specialty chemicals, where it acts as an intermediate in synthesizing compounds like plasticizers and coatings. In the pharmaceutical industry, it serves as a reaction medium for drug formulation and synthesis. Additionally, it finds application in the manufacturing of adhesives and inks due to its ability to enhance stability and performance. Its high boiling point and thermal stability make it suitable for high-temperature processes.