Used primarily in the synthesis of organic compounds, particularly in the development of dyes and pigments due to its ability to form stable colored products. It serves as an intermediate in the production of pharmaceuticals, especially in the creation of compounds with potential therapeutic properties. Additionally, it is utilized in material science for the development of advanced polymers and coatings, enhancing their durability and performance. Its role in research and development is significant, aiding in the exploration of new chemical reactions and pathways.