Primarily used in organic synthesis, it serves as a building block for creating more complex molecules. Its structure is valuable in the development of organic semiconductors, which are essential in electronic devices like OLEDs and solar cells. Additionally, it finds application in the production of dyes and pigments due to its aromatic properties. In research, it is utilized as a model compound to study photophysical and photochemical processes. Its derivatives are also explored in medicinal chemistry for potential pharmaceutical applications.