This compound is primarily utilized in organic synthesis and material science due to its unique structural properties. It serves as a key intermediate in the development of conjugated polymers, which are essential for creating organic semiconductors used in electronic devices like solar cells, LEDs, and sensors. Its nitro and acrylic acid functional groups make it a versatile building block for designing molecules with specific optical and electronic properties. Additionally, it is employed in the synthesis of bioactive compounds, particularly in pharmaceutical research, where it contributes to the development of potential drug candidates with antimicrobial or anticancer activities. Its ability to undergo various chemical reactions, such as cyclization and polymerization, further expands its applications in advanced material design.