Used as a redox-active intermediate in organic synthesis, particularly in the preparation of dyes and pigments. Serves as a building block for functionalized naphthalene derivatives in pharmaceuticals and agrochemicals. Employed in electrochemical studies due to its reversible redox behavior. Acts as a catalyst or mediator in certain oxidation reactions. Investigated for use in organic electronic materials and sensors because of its electron-accepting properties. Also utilized in research related to reactive oxygen species generation for biological studies.