Used primarily in organic synthesis, it serves as a precursor for various ferrocene derivatives, which are important in materials science and catalysis. It is also employed in the development of electrochemical sensors due to its stable redox properties. Additionally, it finds applications in the production of liquid crystals and polymers, where its unique structure enhances thermal stability and electrical conductivity. In research, it is utilized to study electron transfer processes and to create novel organometallic compounds with potential industrial and pharmaceutical uses.