Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in the production of various active ingredients. Its nitro and hydroxyl groups make it a versatile building block for creating complex molecules. In medicinal chemistry, it is often employed to develop compounds with potential antibacterial or antifungal properties. Additionally, it finds application in the research of novel materials, particularly in the development of organic electronic components. Its reactivity also makes it useful in organic synthesis for constructing heterocyclic frameworks.