Used primarily as a chemical intermediate in organic synthesis, this compound serves in the preparation of advanced specialty chemicals, particularly in the development of dyes and functionalized quinone derivatives. Its structure allows for controlled redox reactions, making it valuable in research settings for modeling electron transfer processes. It also finds use in the synthesis of sterically hindered ligands and catalysts, where the isopropyl groups influence reactivity through steric effects. Due to its conjugated system, it can act as a building block in materials science for designing novel organic semiconductors or redox-active components in electrochemical applications.