Whats his romantic history? Does he have one?
I ask because I spent several years feeling like this over a man I met at university. He seemed to like me, but never asked me out on a date. Followed friend's advice and asked him out. He agreed, tentatively, took me out to somewhere his friends from work were, then took me home again. I felt as if I were being used to make them think he had a girlfriend.
I persisted because he was shy. We spent lots of time together, often at his request, got on great, but never quite a date scenario. Eventually I tried to hold his hand, and I got the pull back in horror thing. Quickly followed by an attempt to hug me and the "I just want to be friends" line and "I don't want to give the wrong impression".
The "friends" thing just left me feeling more used, as if I was providing some of the benefits of a girlfriend (not sex but as in making him look as if he were attractive to women), but none of the support you would expect from a true friend - presumably because of "not wanting to give the wrong impression".
Eventually, thinking I had no real friendship to lose, I told him how I felt. He was non-committal, but signs appeared to be hopeful (he was always quite flirty for one so shy), but then it went back to the same as before. Eventually I lost interest. This seemed to irk him, but by now I had grown too familiar with his techniques in restoring my attentions, and couldn't be bothered any more.
He's still single, 15 years later. Never had a girlfriend. He is not gay.
OTOH I know women who have adored slightly disinterested men, got fed up after a while and turned them down, and then ended up in good relationships initiated by the men once they realised they were about to lose them. I'd rather find out by iniating something than always wondering, but be wary of being strung alone in the friends zone if thats not something you can handle.
Be very wary.