Used primarily in the development of conductive polymers and organic semiconductors, this compound plays a crucial role in enhancing the electrical conductivity of materials. It is also employed in the synthesis of advanced dyes and pigments, contributing to the production of vibrant and stable colors. Additionally, it finds applications in the field of energy storage, particularly in the design of high-performance supercapacitors and batteries, due to its redox-active properties. Its ability to form stable complexes with metals makes it valuable in catalysis and material science research.