Used as an intermediate in organic synthesis, particularly in the production of dyes, pigments, and pharmaceuticals. It serves as a reagent in analytical chemistry for the detection and quantification of certain compounds. In the field of biochemistry, it is employed as a substrate for enzyme activity studies, helping to understand enzyme kinetics and mechanisms. Additionally, it finds application in the preparation of specialty chemicals and as a corrosion inhibitor in industrial processes. Its role in research and development is significant, aiding in the exploration of new chemical reactions and pathways.