Used primarily in the synthesis of polymers and resins, this compound serves as a key intermediate in the production of high-performance materials. It is particularly valuable in creating cross-linked polymers that exhibit enhanced thermal stability and mechanical strength, making it suitable for applications in coatings, adhesives, and composite materials. Additionally, it is employed in the development of specialty chemicals for the electronics industry, where its nitro group contributes to the formation of conductive or semiconductive polymers. Its role in organic synthesis also extends to the preparation of pharmaceutical intermediates, where its reactive hydroxyl groups facilitate the construction of complex molecular structures.