Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals. Its structure is valuable in the development of compounds with potential therapeutic properties, particularly in anticancer and antiviral drug research. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form stable, colored complexes. In material science, it is utilized in the creation of advanced polymers and coatings, enhancing their durability and performance. Its role in coordination chemistry is also notable, where it acts as a ligand to form metal complexes with specific catalytic or magnetic properties.