Used primarily as an intermediate in the synthesis of dyes and pigments, this compound plays a crucial role in producing vibrant and stable colors for textiles and inks. It is also employed in the development of certain pharmaceuticals, particularly in the creation of active ingredients for medications targeting specific health conditions. Additionally, it finds application in organic synthesis, aiding in the construction of complex molecules for research and industrial purposes. Its reactivity and structure make it valuable in the production of specialty chemicals and advanced materials.