Used primarily as an intermediate in organic synthesis, it plays a key role in the production of dyes, pharmaceuticals, and agrochemicals. Its reactivity with nucleophiles makes it valuable for introducing the 4-nitrobenzyl group into various compounds. In peptide chemistry, it serves as a protecting group for carboxylic acids. Additionally, it is utilized in the development of photoaffinity labeling agents for studying biological interactions. Its applications extend to the preparation of specialty chemicals and research reagents.