This chemical is primarily used in the synthesis of advanced materials, particularly in the production of liquid crystal polymers and high-performance polymers. It serves as a key intermediate in the development of optical films and displays due to its ability to enhance thermal stability and optical properties. Additionally, it is utilized in the pharmaceutical industry for the preparation of drug intermediates, especially in the synthesis of compounds with potential therapeutic applications. Its role in organic synthesis also extends to the creation of dyes and pigments, where it contributes to the stability and color properties of the final product.