This compound is primarily utilized in the synthesis of organic materials and intermediates for various industrial applications. It serves as a key building block in the production of dyes and pigments, particularly for creating vibrant and stable colors in textiles and coatings. Additionally, it is employed in the development of liquid crystal displays (LCDs) due to its ability to influence molecular alignment and optical properties. In pharmaceutical research, it acts as a precursor for designing novel drug candidates, especially in the development of anti-inflammatory and antimicrobial agents. Its structural properties make it valuable in advanced material science, contributing to the creation of polymers and resins with enhanced performance characteristics.