Used primarily in the synthesis of dyes and pigments, this compound plays a crucial role in the production of colorants for textiles, inks, and coatings. Its chemical structure allows it to act as an intermediate in the creation of complex dye molecules, enhancing color fastness and vibrancy. Additionally, it finds application in the pharmaceutical industry, where it serves as a building block for the synthesis of certain active pharmaceutical ingredients (APIs). Its versatility also extends to organic synthesis, where it is utilized in the preparation of various heterocyclic compounds, which are important in the development of agrochemicals and other specialty chemicals.