This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures, particularly in pharmaceutical research. It serves as a building block in the development of various active pharmaceutical ingredients (APIs) due to its functional groups, which allow for further chemical modifications. Additionally, it is employed in the synthesis of agrochemicals, where its nitro and ester groups play a crucial role in creating compounds with herbicidal or pesticidal properties. Its versatility also makes it valuable in the field of material science, where it can be used to develop novel polymers or coatings with specific properties.