This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various benzimidazole derivatives. These derivatives are often explored for their potential pharmaceutical applications, particularly in the development of drugs targeting specific enzymes or receptors. Additionally, it is employed in the creation of dyes and pigments due to its ability to form stable, colored complexes. In material science, it is investigated for its role in the synthesis of advanced polymers and coatings, which can exhibit enhanced durability and chemical resistance. Its unique structure also makes it a candidate for research in the development of organic semiconductors and electronic materials.