Used as a key intermediate in the synthesis of fluorescent dyes and pigments, particularly in the production of yellow and orange organic colorants for coatings, inks, and plastics. Its structure supports conjugation and electron delocalization, enhancing color intensity and lightfastness. Also employed in the development of specialty polymers with improved thermal stability and optical properties. Additionally, it finds use in research for designing sensors and optoelectronic materials due to its ability to chelate metal ions and exhibit solvatochromic behavior.