Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various dyes and pigments. It is particularly useful in the synthesis of heterocyclic compounds, which are essential in the development of pharmaceuticals and agrochemicals. Additionally, it plays a role in the preparation of complex organic molecules for research purposes, aiding in the study of chemical reactions and material properties. Its application extends to the field of analytical chemistry, where it is utilized as a reagent for detecting and quantifying specific substances in samples.