This chemical is primarily used in the production of dyes and pigments, particularly in the synthesis of colorants for textiles and plastics. Its structure allows it to act as an intermediate in the creation of complex dye molecules, providing stability and vibrant colors. Additionally, it finds application in the manufacturing of photochromic materials, which are used in lenses that darken upon exposure to sunlight. It is also utilized in research and development for organic synthesis, where it serves as a building block for more complex chemical compounds.