This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. Its functional groups, including the hydroxyl, methoxy, nitro, and ester groups, make it a versatile building block in the development of pharmaceuticals, agrochemicals, and dyes. In pharmaceutical research, it can be used to synthesize active ingredients or precursors for drugs, particularly those targeting specific biological pathways. Additionally, its nitro and ester groups are valuable in creating compounds with potential antioxidant or antimicrobial properties. In material science, it may serve as a precursor for designing advanced polymers or coatings with tailored properties. Its role in research and development highlights its importance in creating innovative solutions across various industries.