Used primarily in the synthesis of dyes and pigments, this compound serves as an intermediate in the production of colorants for textiles, plastics, and inks. It is also employed in the development of organic semiconductors, contributing to the manufacturing of electronic devices like OLEDs and solar cells. Additionally, it finds application in the pharmaceutical industry as a building block for the synthesis of certain drugs, particularly those targeting anti-inflammatory and antimicrobial properties. Its role in agrochemical research includes the creation of pesticides and herbicides, aiding in crop protection and yield improvement.