Used primarily in the production of dyes and pigments, this compound is valued for its ability to impart strong, stable colors to various materials. It is also employed in the synthesis of certain pharmaceuticals, where it serves as an intermediate in the creation of active ingredients. Additionally, it finds application in the field of organic electronics, contributing to the development of materials for light-emitting diodes (LEDs) and other electronic devices. Its role in research and development is significant, particularly in studies focused on optimizing the performance of organic compounds in industrial applications.