This compound is primarily utilized in the field of organic synthesis as an intermediate for the production of more complex chemical structures. Its diketone functionality makes it a valuable precursor in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that require specific aromatic and ketone groups. Additionally, it finds application in the creation of advanced materials, such as polymers and resins, where its rigid aromatic structure can enhance thermal stability and mechanical properties. In research, it is often employed in studies focusing on photochemistry and catalysis, as its structure allows for the exploration of light-induced reactions and catalytic processes.