This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the production of dyes and pigments. Its structure allows it to act as an intermediate in the creation of heterocyclic compounds, which are essential in the development of pharmaceuticals and agrochemicals. Additionally, it is employed in research settings for the preparation of specialized polymers and materials with unique electronic properties. Its reactivity with various reagents makes it a valuable component in organic chemistry laboratories for constructing diverse chemical frameworks.