Used primarily as a solvent in various industrial applications, it is effective in dissolving a wide range of substances, making it valuable in the production of coatings, paints, and adhesives. Its properties also make it suitable for use in the formulation of personal care products, such as cosmetics and skincare items, where it helps to improve texture and stability. Additionally, it serves as a key intermediate in the synthesis of pharmaceuticals, contributing to the development of drugs with enhanced efficacy and safety profiles. Its ability to act as a stabilizer and plasticizer further extends its utility in the manufacturing of polymers and resins.