This compound is primarily utilized in the synthesis of advanced organic materials, particularly in the development of liquid crystals and polymers. Its unique structure, featuring hydroxyl and aldehyde functional groups, makes it a valuable building block for creating high-performance polymers with specific optical and thermal properties. It is also employed in the production of dyes and pigments, where its ability to form stable, colored complexes is highly advantageous. Additionally, researchers explore its potential in designing molecular sensors due to its ability to interact selectively with various analytes. Its role in supramolecular chemistry is noteworthy, as it contributes to the formation of complex, self-assembled structures with tailored functionalities.