Used primarily as an intermediate in the synthesis of phthalocyanine dyes and pigments, which are essential in various industrial applications. These dyes are widely employed in the production of inks, coatings, and plastics due to their excellent stability and vibrant colors. Additionally, it plays a role in the development of organic semiconductors, which are crucial for manufacturing electronic devices like solar cells and light-emitting diodes (LEDs). Its unique structure also makes it valuable in research for creating advanced materials with specific optical and electronic properties.