Used primarily in organic synthesis, it serves as an intermediate in the production of various chemical compounds. It is employed in the development of dyes and pigments due to its nitro and ester functional groups, which contribute to color formation. Additionally, it finds application in pharmaceutical research for synthesizing potential drug candidates, particularly those involving salicylate derivatives. Its role in analytical chemistry includes being a reagent for specific detection methods. The compound is also utilized in material science for modifying surface properties or creating specialized polymers.