Used primarily as an intermediate in the production of high-performance polymers, it plays a key role in synthesizing materials like polyesters and liquid crystals. These polymers are valued for their thermal stability and mechanical strength, making them suitable for applications in the electronics and automotive industries. Additionally, it is utilized in the manufacture of specialty chemicals, including dyes and pigments, due to its ability to form stable aromatic structures. Its derivatives are also explored in pharmaceutical research for potential use in drug development.