Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its nitro and carboxylic acid functional groups make it valuable for creating complex molecules through reactions like reduction and coupling. Additionally, it is employed in research for developing dyes and pigments due to its ability to form stable, colored derivatives. Its role in material science includes the synthesis of polymers and liquid crystals, where its structural properties contribute to desired material characteristics.