Used primarily as an intermediate in the synthesis of dyes and pigments, it plays a crucial role in producing colorants for textiles and inks. It is also employed in organic research for the development of naphthalene derivatives, which are valuable in various chemical reactions. Additionally, it finds application in the preparation of pharmaceutical compounds, particularly in the synthesis of active pharmaceutical ingredients (APIs). Its nitro group makes it a useful precursor for further chemical modifications in industrial and laboratory settings.