Used primarily in the synthesis of phthalocyanine dyes, which are essential in various industrial applications. These dyes are employed in the production of colorants for plastics, inks, and coatings due to their stability and vibrant colors. Additionally, it serves as a key intermediate in the development of organic semiconductors, which are crucial for electronic devices like solar cells and OLEDs. Its role in creating advanced materials for optoelectronics highlights its importance in modern technology.