Used primarily in organic synthesis, this compound serves as a key intermediate in the production of dyes and pigments, particularly for applications in the textile and printing industries. It is also employed in the development of organic semiconductors, which are crucial for manufacturing electronic devices like OLEDs and solar cells. Additionally, it finds use in research as a building block for creating complex organic molecules in pharmaceutical and agrochemical industries. Its unique structure makes it valuable in studies related to photophysical and electrochemical properties.