Used as an intermediate in the synthesis of dyes and pigments, particularly in the production of azo dyes for textiles and printing inks. Also employed in the development of photochromic materials due to its ability to undergo reversible structural changes upon exposure to light. Plays a role in the formulation of certain pharmaceuticals where it acts as a building block for active compounds with anti-inflammatory properties. Additionally, utilized in analytical chemistry as a derivatizing agent for detecting phenolic compounds in environmental samples.