Used as an intermediate in the synthesis of dyes and pigments, particularly in the production of colorants for textiles and plastics. It is also employed in the development of liquid crystal displays (LCDs) due to its ability to modify optical properties. Additionally, it finds application in organic synthesis as a building block for more complex chemical compounds, including pharmaceuticals and agrochemicals. Its solubility in various organic solvents makes it useful in formulations for coatings and adhesives.