This chemical is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the preparation of complex organic compounds, particularly in the development of dyes and pigments. Its unique structure allows it to act as a ligand in coordination chemistry, facilitating the formation of metal complexes that are used in catalytic processes. Additionally, it finds application in the production of advanced materials, such as organic semiconductors and light-emitting diodes (LEDs), due to its ability to influence electronic properties. In research, it is often employed in studies related to molecular recognition and supramolecular chemistry, where its interaction with other molecules is explored for potential applications in sensors and molecular devices.