Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in producing vibrant colors for textiles and other materials. It is also employed in the manufacturing of photoinitiators for UV-curable coatings and inks, enhancing their performance and durability. Additionally, it serves as an intermediate in organic synthesis, contributing to the development of various pharmaceuticals and specialty chemicals. Its unique structure makes it valuable in research applications, particularly in studies related to photochemistry and material science.