Used primarily as an intermediate in organic synthesis, this compound plays a significant role in the production of dyes and pigments, particularly for coloring textiles and plastics. It is also employed in the synthesis of pharmaceuticals, where it contributes to the development of active pharmaceutical ingredients. Additionally, it serves as a building block in the creation of complex organic molecules for research and industrial applications. Its properties make it valuable in the field of material science, particularly in the development of advanced materials with specific optical or electronic characteristics.