Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in producing colorants for textiles, inks, and plastics. Its chemical structure allows it to act as an intermediate in the creation of complex dye molecules, enhancing color fastness and stability. Additionally, it is employed in the development of specialty chemicals for photographic applications, where it contributes to the formation of light-sensitive materials. Its unique properties also make it valuable in research and development for advanced organic synthesis.