Used in organic synthesis as a key intermediate for producing dyes and pigments, particularly in the manufacturing of colorants for textiles and plastics. It is also utilized in the development of functional materials, such as organic semiconductors and photovoltaic devices, due to its electron-accepting properties. Additionally, it finds application in research as a building block for creating complex organic molecules with potential pharmaceutical or agrochemical activity. Its unique structure makes it valuable in the study of conjugated systems and photophysical properties.