Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in the production of colorants for textiles, inks, and coatings. It is also employed in the pharmaceutical industry as an intermediate in the manufacture of certain drugs, particularly those targeting specific receptors or pathways. In agrochemicals, it serves as a building block for creating pesticides and herbicides, contributing to crop protection. Additionally, it finds application in organic research for developing novel compounds with potential industrial or medicinal uses. Its stability and reactivity make it a valuable component in various chemical processes.