Acetone (propanone) is a colorless, flammable liquid, and is the simplest ketone acetone that has high miscibility with water. It serves as an important solvent and typically used for cleaning purposes in the laboratory and also in the production of methyl methacrylate and bisphenol. It is a common building block in organic chemistry. Familiar household uses of Acetone are as the active ingredient in nail polish remover and as paint thinner. Acetone is a good solvent for many plastics and some synthetic fibers as it is used for thinning polyester resin. It is used as one of the volatile components for some paints and varnishes. Acetone is used as a solvent by the pharmaceutical industry and is also used in the production of methyl isobutyl alcohol and methyl isobutyl ketone.