Used primarily in the synthesis of dyes and pigments, this compound serves as an intermediate in the production of colorants for textiles, plastics, and other materials. It is also employed in the development of organic semiconductors and electronic materials due to its aromatic structure, which facilitates electron transfer. Additionally, it finds application in research as a building block for more complex chemical compounds in pharmaceuticals and agrochemicals. Its properties make it valuable in creating compounds with specific optical and electronic characteristics.