Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in producing vibrant colors for textiles and inks. It is also utilized in the development of high-performance polymers, enhancing their thermal stability and mechanical properties. Additionally, it serves as an intermediate in the manufacture of certain pharmaceuticals, contributing to the creation of active ingredients in medications. Its application extends to the field of organic electronics, where it aids in the production of materials for electronic devices.