Primarily used in organic synthesis, this compound serves as a key intermediate in the production of dyes and pigments. It is particularly valuable in creating colorants for textiles, inks, and coatings due to its ability to form stable and vibrant hues. Additionally, it finds application in the development of fluorescent markers and optical brighteners, enhancing the brightness and visibility of materials in various industries. Its role in pharmaceutical research is also notable, where it aids in the synthesis of active compounds for drug development.