This chemical is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various heterocyclic compounds, particularly those containing thiophene rings. Its structure makes it valuable for designing molecules with potential biological activity, such as antimicrobial or anticancer agents. Additionally, it is used in the synthesis of dyes and pigments due to its nitro and ester functional groups, which contribute to color formation. Researchers also explore its application in material science for creating specialized polymers or coatings with unique properties.