This chemical is primarily utilized as a high-performance pigment in various industrial applications due to its excellent lightfastness and thermal stability. It is often incorporated into coatings, plastics, and inks to provide vibrant and durable coloration, particularly in environments where exposure to UV light or high temperatures is a concern. Additionally, it is used in the production of advanced materials, such as organic semiconductors, where its unique electronic properties contribute to the development of optoelectronic devices. Its robust structure also makes it suitable for use in specialty dyes and as a stabilizer in polymers to enhance their resistance to degradation.