This chemical is primarily utilized in the field of organic synthesis and material science. It serves as a key intermediate in the production of specialized dyes and pigments, particularly those used in high-performance textiles and coatings. Its unique structure allows it to contribute to the development of colorants with enhanced stability and brightness. Additionally, it finds application in the research and development of advanced optical materials, where its properties are leveraged to create compounds with specific light-absorbing or emitting characteristics. In the pharmaceutical industry, it is explored for its potential in synthesizing novel compounds with bioactive properties, though this application is still in the experimental stages. Its sulfonate group also makes it a candidate for use in water-soluble formulations, broadening its utility in various industrial processes.