This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of dyes and pigments. Its structure allows it to act as an intermediate in the production of colorants used in textiles, plastics, and inks. Additionally, it is employed in the creation of fluorescent materials, which are essential in various analytical and diagnostic applications. In research, it serves as a building block for complex molecules in pharmaceuticals and agrochemicals, contributing to the development of new drugs and crop protection agents. Its reactivity also makes it valuable in organic synthesis for constructing heterocyclic compounds, which are crucial in medicinal chemistry.