This compound is primarily utilized in the synthesis of advanced organic materials and specialized chemical intermediates. Its unique structure, featuring a nitro group and a propynyloxy moiety, makes it valuable in the development of photoactive compounds and light-sensitive polymers. It is often employed in research focused on creating novel dyes, pigments, and coatings with enhanced optical properties. Additionally, it serves as a key building block in the preparation of pharmaceutical intermediates, particularly in the design of molecules with potential biological activity. Its reactivity and functional groups also make it suitable for use in organic synthesis and catalysis studies.