Acetone is a versatile solvent widely used in industrial and laboratory settings for its excellent ability to dissolve many plastics, synthetic fibers, and chemical residues. Its fast evaporation rate makes it ideal for cleaning and degreasing surfaces without leaving residue. Known for its effectiveness in nail polish removal and paint thinning, acetone is essential for precise chemical applications requiring quick drying and thorough cleaning. Handle with care due to its flammability and ensure proper ventilation during use.