Used as a key intermediate in the synthesis of fluorescent dyes and pigments due to its rigid aromatic structure and ability to form stable derivatives. Its anhydride group readily reacts with amines and alcohols, making it valuable in creating chromophores for optical brighteners in detergents and paper coatings. Also employed in the preparation of specialty polymers with enhanced thermal and oxidative stability. Its hydroxyl and anhydride functionalities allow for metal coordination, useful in developing sensors for metal ion detection. Additionally, it serves as a building block in organic semiconductors and luminescent materials for OLEDs and bioimaging probes.