This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various heterocyclic compounds. Its structure makes it suitable for constructing complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Additionally, it has been explored for its potential use in dye and pigment manufacturing due to its aromatic and conjugated system, which can impart color stability. Researchers also investigate its application in material science, particularly in the synthesis of polymers and coatings, where it can enhance durability and performance.