This chemical is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the development of complex organic compounds, particularly those with potential applications in pharmaceuticals and agrochemicals. Its unique structure allows it to act as a building block for creating molecules with specific biological activities, such as antimicrobial or anticancer properties. Additionally, it is explored in the synthesis of advanced materials, including organic semiconductors and photoresponsive compounds, due to its ability to form stable and functionalized frameworks. Researchers also investigate its role in designing novel dyes and pigments for industrial applications.