This chemical is primarily used as an intermediate in the synthesis of various organic compounds, particularly in the production of dyes and pigments. Its structure allows it to act as a building block for creating complex molecules with specific color properties. Additionally, it finds application in the development of polymers and resins, where it contributes to enhancing thermal stability and mechanical strength. In the pharmaceutical industry, it is utilized in the preparation of certain active pharmaceutical ingredients (APIs) due to its ability to form stable and functional chemical bonds. Its role in research and development is also notable, as it serves as a key reagent in organic synthesis and material science studies.