Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of active ingredients for medications, including antimicrobial and antifungal agents. Additionally, it plays a role in the development of dyes and pigments due to its nitro and phenol functional groups, which facilitate chemical modifications. Its chloromethyl group also makes it a useful building block for creating more complex chemical structures in research and industrial applications.