Used primarily as a building block in the synthesis of triphenylmethane dyes, which are widely applied in textiles, inks, and biological staining. Its derivatives exhibit strong coloration and fluorescence, making them valuable in the production of pH indicators like phenolphthalein and in histology for cell and tissue imaging. Also serves as a precursor in the manufacture of photochromic materials and optical sensors due to its ability to undergo reversible structural changes under light exposure. Additionally, triphenylmethane compounds find use in industrial solvents and as colorants in consumer products such as cosmetics and plastics.