Used primarily in organic synthesis, this compound serves as a key intermediate in the production of dyes and pigments, contributing to vibrant and stable colorants for textiles and inks. It is also employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Additionally, it finds application in research settings for studying chemical reactions and mechanisms, aiding in the advancement of synthetic methodologies. Its role in the creation of organic electronic materials is notable, as it helps in the development of components for optoelectronic devices.