Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in producing vibrant colors for textiles and inks. It is also utilized in the development of organic semiconductors, contributing to advancements in electronic devices such as solar cells and light-emitting diodes (LEDs). Additionally, it serves as an intermediate in the manufacture of pharmaceuticals, particularly in the creation of compounds with potential anti-inflammatory and antimicrobial properties. Its application in research and development further extends to the study of organic reactions and material science.