This compound is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the production of dyes and pigments, particularly for applications in textile and industrial coloring. Its unique structure allows it to act as a chromophore, contributing to the vibrant colors in various dye formulations. Additionally, it is explored in the development of organic semiconductors and photoconductive materials, where its electronic properties are harnessed for use in optoelectronic devices such as organic light-emitting diodes (OLEDs) and solar cells. Research also investigates its potential in biological applications, including its use as a precursor for compounds with antimicrobial or anticancer properties.