Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in the production of colorants for textiles and plastics. Its structure allows it to act as an intermediate in the creation of complex dye molecules, enhancing color fastness and stability. Additionally, it is employed in the development of specialty chemicals for photographic materials, contributing to the sensitivity and quality of photographic films. In the pharmaceutical industry, it serves as a building block for the synthesis of certain active pharmaceutical ingredients, particularly those targeting specific receptor sites. Its application extends to research laboratories, where it is utilized in organic synthesis and chemical studies to explore new reactions and pathways.