This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the development of pharmaceuticals and agrochemicals. Its structure makes it a valuable intermediate in the creation of molecules with potential therapeutic properties, such as anti-inflammatory or antimicrobial agents. Additionally, it is employed in the production of dyes and pigments due to its ability to form stable conjugated systems. In research, it serves as a building block for constructing ligands used in coordination chemistry, aiding in the study of metal-organic frameworks and catalysis. Its versatility also extends to material science, where it contributes to the development of advanced polymers and coatings.