Used primarily in the synthesis of dyes and pigments, this compound is valued for its ability to impart vibrant colors to various materials. It is often employed in the textile industry to create long-lasting and stable dyes for fabrics. Additionally, it finds application in the production of inks, particularly for printing and packaging, where color consistency and durability are essential. In the field of organic electronics, it is explored for its potential use in the development of light-emitting diodes (LEDs) and other optoelectronic devices due to its fluorescent properties. Its role in research and development also extends to the study of photochemical reactions and as a building block for more complex organic molecules.