Used in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. It plays a key role in the development of UV absorbers and light stabilizers, which are essential in coatings, plastics, and personal care products to prevent degradation from sunlight exposure. Additionally, it is utilized in the manufacture of liquid crystals, which are critical components in display technologies such as LCDs. Its unique structure allows it to act as a building block in the synthesis of complex organic molecules, particularly in research and industrial applications.