This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting neurological and cardiovascular disorders. Its nitro and ester functional groups make it a versatile building block for constructing complex heterocyclic compounds. Researchers often employ it in the synthesis of potential drug candidates due to its ability to introduce specific structural motifs that enhance biological activity. Additionally, it is explored in the design of novel materials, including polymers and dyes, where its unique chemical structure contributes to desired properties like stability and reactivity.