Used primarily as a chelating agent in various industrial and chemical processes. It effectively binds with metal ions, making it valuable in the production of metal complexes and catalysts. In organic synthesis, it serves as a building block for creating more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its fluorescence properties are utilized in analytical chemistry for detecting and quantifying metal ions in solutions. Additionally, it finds application in the manufacturing of dyes and pigments due to its ability to form stable, colored complexes with metals.