This compound is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and fine chemicals. It is often employed in the development of dyes, pigments, and other colorants due to its nitro group, which can participate in reactions to form complex structures. Additionally, it serves as a building block in the synthesis of compounds with potential biological activity, particularly in the research and development of new drugs. Its structure allows for further functionalization, making it valuable in the creation of diverse chemical entities.