Used primarily in organic synthesis, this compound serves as a key intermediate in the production of dyes and pigments, particularly for creating vibrant and stable colors in textiles and inks. Its structure makes it valuable in the development of fluorescent materials, which are applied in biological staining and imaging techniques to study cellular processes. Additionally, it is utilized in the preparation of polyimide resins, which are essential in manufacturing high-performance plastics and coatings for electronics due to their thermal stability and mechanical strength.