This chemical is primarily used in the field of organic synthesis and materials science. It serves as a key component in the preparation of advanced organic materials, particularly in the development of dyes and pigments. Its unique structure allows it to act as a photoinitiator in photopolymerization processes, making it valuable in the production of coatings, adhesives, and inks that cure under UV light. Additionally, it is utilized in research for designing fluorescent probes and sensors due to its ability to interact with specific molecules and emit light. Its application in electronics is also notable, where it contributes to the fabrication of organic semiconductors and optoelectronic devices.