This compound is primarily utilized in the synthesis of organic materials, particularly in the development of dyes and pigments due to its conjugated system, which allows for strong coloration. It serves as a key intermediate in the production of pharmaceuticals, especially in the creation of compounds with potential anticancer and anti-inflammatory properties. Additionally, it is employed in the field of organic electronics, where it contributes to the fabrication of light-emitting diodes (LEDs) and other optoelectronic devices. Its ability to undergo polymerization also makes it valuable in creating advanced polymeric materials with specific optical and electronic characteristics.