Used in organic synthesis to create complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a building block for pyrrole-based compounds, which are known for their biological activity. Applied in the production of dyes and pigments due to its ability to form stable, colored complexes. Also utilized in material science for the development of conductive polymers and advanced materials with unique electronic properties. Its role in fragrance formulations is notable, contributing to earthy, green, or floral notes in perfumes and cosmetics. Additionally, it is explored in research for potential applications in catalysis and as a ligand in coordination chemistry.