Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules with antimicrobial or anti-inflammatory properties. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for constructing heterocyclic compounds. Also employed in the preparation of fluorescent dyes and optical brighteners due to its ability to participate in conjugated systems. Additionally, it serves as a building block in materials science for designing specialty polymers with enhanced thermal and oxidative stability.