Used primarily in organic synthesis, this compound serves as an intermediate in the production of more complex molecules, particularly in pharmaceutical research. Its structure, featuring a nitrophenyl group, makes it valuable in the development of compounds with potential biological activity. It is also employed in the study of cyclobutane ring systems, which are of interest due to their presence in various natural products and drugs. Additionally, it can be utilized in the preparation of polymers and materials science applications where specific functional groups are required.