This compound is primarily utilized in the development of specialized dyes and pigments, particularly for applications in the textile and printing industries. Its unique structure allows it to bind effectively with various substrates, providing vibrant and long-lasting coloration. Additionally, it is explored in the synthesis of advanced materials, such as polymers and coatings, where its chemical properties enhance durability and resistance to environmental factors. In research, it serves as a key intermediate in the preparation of complex organic molecules, contributing to studies in medicinal chemistry and material science. Its potential applications in creating UV-absorbing materials are also under investigation, making it relevant in the development of protective coatings and sunscreens.