This chemical is primarily utilized in the development of advanced materials, particularly in the field of organic electronics. It serves as a key component in the synthesis of conjugated polymers, which are essential for creating organic semiconductors. These semiconductors are widely used in the fabrication of organic light-emitting diodes (OLEDs), organic photovoltaic cells (OPVs), and organic field-effect transistors (OFETs). Its unique structure allows for enhanced charge transport properties, making it suitable for improving the efficiency and performance of these devices. Additionally, it is explored in research for its potential applications in sensors and electrochromic devices due to its ability to undergo reversible redox reactions.