This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of advanced materials. It serves as a key intermediate in the production of Schiff base ligands, which are crucial in coordination chemistry for creating metal complexes. These complexes are often employed in catalysis, molecular recognition, and as sensors for detecting various ions and molecules.

Additionally, it is used in the fabrication of polymers and resins with specific optical and mechanical properties, making it valuable in the production of high-performance materials. Its role in the synthesis of liquid crystals is also noteworthy, contributing to the development of display technologies such as LCDs. Furthermore, its application extends to the field of organic electronics, where it aids in the creation of components for devices like organic light-emitting diodes (OLEDs) and photovoltaic cells.