This compound is primarily used as an intermediate in organic synthesis, particularly in the preparation of more complex molecules. Its bromomethyl group makes it a valuable reagent for introducing functional groups through substitution reactions, while the nitro group can be reduced to an amine for further derivatization. It is often utilized in pharmaceutical research for the development of active pharmaceutical ingredients (APIs) and in the synthesis of agrochemicals. Additionally, its ester functionality allows for further chemical modifications, making it versatile in the creation of fine chemicals and specialty materials.