Used as an intermediate in the synthesis of anthraquinone dyes and pigments, particularly for producing vat dyes that are valued for their excellent light and wash fastness in textiles. Also serves as a building block in the preparation of certain pharmaceuticals, including anti-inflammatory and analgesic agents. Its structure allows for easy functionalization, making it useful in organic synthesis for developing heterocyclic compounds. Additionally, it finds application in the production of fluorescent brightening agents for paper and plastics.