Used as a key intermediate in the synthesis of phthalocyanine dyes and pigments, which are valued for their intense color and stability in inks, coatings, and plastics. Also employed in the production of organic semiconductors and photoconductive materials for use in electronic devices such as photocopiers and solar cells. Its reactivity allows for functionalization in agrochemicals and pharmaceuticals, particularly in the development of heterocyclic compounds. Additionally, it serves as a building block in coordination chemistry for creating metal-organic frameworks and catalysts.