Used primarily as a high-performance pigment in the manufacturing of plastics, coatings, and inks, this compound offers excellent thermal stability and lightfastness, making it ideal for outdoor applications. Its vibrant color and resistance to fading are particularly valued in automotive paints and industrial coatings. Additionally, it is employed in organic electronics, including organic photovoltaic cells, due to its electron-accepting properties and ability to enhance the efficiency of solar energy conversion. In the field of advanced materials, it is utilized in the development of sensors and light-emitting diodes (LEDs), contributing to improved performance and durability.