Used as an intermediate in the synthesis of anthraquinone dyes, particularly for textile and leather coloring. It contributes to the production of vat dyes that offer excellent light and wash fastness. Also employed in the development of functional dyes for specialty applications, including near-infrared absorbing dyes and photoconductive materials. Its hydroxyl groups allow for metal complex formation, useful in catalysis and pigment preparation. Additionally, it has been explored in electrochemical applications due to its redox activity.