This chemical is primarily utilized in the field of organic synthesis, particularly in the development of advanced materials. It serves as a key intermediate in the production of high-performance polymers and resins, which are valued for their thermal stability and mechanical strength. Additionally, it is employed in the synthesis of photoactive compounds, making it useful in the creation of light-sensitive materials for applications such as photoresists in the electronics industry. Its structure also lends itself to use in the development of organic semiconductors, which are critical components in organic light-emitting diodes (OLEDs) and other electronic devices. Furthermore, it finds application in research settings for studying reaction mechanisms and developing novel organic compounds with potential industrial or pharmaceutical relevance.