Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its formyl and nitro groups make it a versatile building block for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). It is also employed in the synthesis of dyes and pigments due to its ability to form stable, colored compounds. Additionally, its reactivity allows for further functionalization, making it valuable in research and industrial applications for creating novel chemical entities.