This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. It is particularly valuable in the synthesis of dyes and pigments, where its nitro and hydroxyl groups enable the formation of vibrant and stable colorants. Additionally, it finds application in the development of pharmaceuticals, serving as a building block for active pharmaceutical ingredients (APIs) that require specific functional groups for biological activity. Its properties also make it useful in research and development for creating novel compounds with potential industrial or medicinal applications.