This compound is primarily utilized in the synthesis of dyes and pigments, particularly in the production of hair dyes and colorants. It serves as an intermediate in the creation of complex organic molecules that impart color to various materials. Additionally, it finds application in the development of photographic chemicals, where it contributes to the formation of light-sensitive compounds. In research settings, it is employed as a reagent for studying oxidation-reduction reactions and other chemical processes. Its role in these applications stems from its ability to undergo specific chemical transformations, making it valuable in both industrial and laboratory contexts.