Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure allows for selective functionalization, making it valuable in the development of complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Buchwald-Hartwig reactions, to create biologically active compounds. Additionally, it is utilized in the synthesis of dyes and pigments due to its nitro and halogen substituents, which contribute to color and stability. Its role in material science includes the development of advanced polymers and coatings.