Used primarily as a fluorescent stain for detecting lipids in biological tissues and cells. It is highly effective in visualizing lipid droplets under a fluorescence microscope due to its strong emission in the red spectrum when bound to lipids. Also employed in material science for studying the properties of polymers and nanoparticles, particularly in assessing hydrophobicity and lipid content. In environmental science, it is utilized to track oil spills and monitor lipid accumulation in microorganisms. Additionally, it serves as a probe in biochemical research to study lipid metabolism and storage in various organisms.