This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various dyes and pigments. Its structure allows it to contribute to the development of colorants with specific properties, particularly in the textile and printing industries. Additionally, it finds application in the creation of specialty chemicals used in research and development, particularly in studies involving photophysical and photochemical processes. Its unique molecular framework also makes it a candidate for use in advanced materials, such as polymers and coatings, where it can impart specific optical or mechanical characteristics.