This compound is widely used as a ligand in coordination chemistry due to its ability to form stable complexes with various metal ions. It is particularly effective in creating catalysts for organic synthesis, including oxidation and polymerization reactions. In industrial applications, it serves as a key component in the production of fine chemicals and pharmaceuticals, where precise catalytic activity is essential. Additionally, it is utilized in analytical chemistry as a chelating agent for the detection and separation of metal ions. Its structural properties also make it suitable for research in material science, particularly in the development of advanced polymeric materials and metal-organic frameworks.