Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its structure allows for further functionalization through reduction of the nitro group and modification of the ester moiety. Commonly employed in the preparation of bioactive molecules where the thiophene ring acts as a heteroaromatic scaffold. Also utilized in research settings for the synthesis of novel ester and amide derivatives with potential biological activity. Additionally, it serves as a chromogenic substrate for assaying esterase and lipase enzymatic activities, as hydrolysis releases the yellow-colored 4-nitrophenolate ion, which can be easily quantified by spectrophotometry.