Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. Its nitro and hydroxyl groups make it a versatile building block for creating complex molecules, particularly in the development of drugs targeting specific biological pathways. Additionally, it finds application in organic synthesis for constructing heterocyclic compounds, which are crucial in medicinal chemistry. Its role in the manufacture of dyes and pigments is also notable, contributing to the colorant industry.