Used primarily in the synthesis of organic compounds, it serves as a key intermediate in the production of dyes and pigments, particularly for textiles and plastics. It is also employed in the manufacturing of pharmaceuticals, where it acts as a building block for active ingredients in various medications. Additionally, it finds application in the development of liquid crystals, which are essential components in displays for electronic devices like smartphones and televisions. Its role in organic synthesis extends to the creation of specialty chemicals used in research and industrial processes.