Used primarily as an intermediate in the synthesis of pharmaceuticals, especially in the development of analgesic and anti-inflammatory agents. Its structure allows for easy modification in multi-step reactions, making it valuable in creating active drug components. It is also employed in the preparation of dyes and functionalized polymers due to its reactive hydroxyl and nitro groups. In research, it serves as a building block for novel compounds in medicinal chemistry, particularly in the design of enzyme inhibitors.