Used in the synthesis of dyes and pigments, particularly for textile and leather coloring due to its strong chromophoric properties. Acts as an intermediate in the production of anthraquinone-based dyes, which are valued for their color fastness and stability. Also employed in the formulation of optical brighteners for paper and plastics. Shows potential in electrochemical applications, such as redox mediators in flow batteries. Some derivatives are explored for their biological activity in pharmaceutical research, though the compound itself is primarily industrial.