Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. Its nitro and hydroxyl groups make it a versatile building block for creating complex molecules, particularly in the development of herbicides and fungicides. Additionally, it finds application in organic synthesis for constructing heterocyclic compounds, which are crucial in drug discovery and material science. Its reactivity allows for further functionalization, enabling the creation of tailored compounds for specific industrial or research purposes.