Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of antimicrobial and anticancer agents due to its nitro and anhydride functional groups, which facilitate diverse chemical reactions. Additionally, it is employed in the synthesis of dyes and pigments, contributing to vibrant and stable colorants for industrial applications. Its role in creating complex organic molecules makes it a versatile tool in research and industrial chemistry.