Used primarily in organic synthesis, this compound serves as an intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows it to participate in various chemical reactions, making it valuable for creating complex molecules. Additionally, it is utilized in the development of dyes and pigments due to its ability to form stable aromatic compounds. In research, it is employed to study reaction mechanisms and develop new synthetic pathways. Its applications also extend to the field of material science, where it contributes to the creation of advanced polymers and coatings.