Used primarily in the synthesis of organic compounds, it serves as a key intermediate in the production of dyes and pigments, contributing to vibrant and stable colors in textiles and inks. It is also employed in the development of pharmaceuticals, particularly in the creation of compounds with potential anti-inflammatory and antimicrobial properties. Additionally, it finds application in agricultural chemistry, where it is utilized in the formulation of pesticides and herbicides to enhance crop protection. Its role in polymer chemistry includes acting as a stabilizer or additive to improve the durability and performance of certain plastic materials.