This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of dyes and pigments. Its structure makes it a valuable intermediate in producing colorants for textiles, inks, and coatings. Additionally, it is employed in the pharmaceutical industry for the creation of specific active pharmaceutical ingredients (APIs) due to its ability to form complex molecular structures. In research, it serves as a building block for developing new materials with potential applications in electronics and advanced polymers. Its versatility in chemical reactions also makes it useful in fine chemical manufacturing and academic studies.