Used primarily in the synthesis of organic compounds, it serves as a key intermediate in the production of dyes and pigments, contributing to vibrant colorations in textiles and plastics. Its structure is beneficial in creating materials with specific optical properties, making it valuable in the development of advanced optical devices. Additionally, it is employed in the pharmaceutical industry for the synthesis of various bioactive molecules, aiding in the creation of new therapeutic agents. Its role in polymer chemistry is notable, where it enhances the durability and stability of polymers, improving their performance in industrial applications.