Used primarily in the synthesis of advanced organic compounds, this chemical serves as a key intermediate in the production of dyes and pigments, particularly those requiring high thermal stability and colorfastness. It is also employed in the development of liquid crystal displays (LCDs) and other electronic materials due to its rigid molecular structure, which enhances performance in optoelectronic applications. Additionally, its derivatives are explored in pharmaceutical research for potential use in drug development, leveraging its unique chemical properties for creating bioactive molecules.