This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex chemical structures. Its nitro and carboxylate functional groups make it a versatile building block for the development of various pharmaceuticals and agrochemicals. Additionally, it has been explored in research for its potential use in the synthesis of bioactive molecules, particularly those targeting neurological and cardiovascular systems. The compound's stability and reactivity also make it suitable for use in experimental studies aimed at understanding reaction mechanisms and developing new synthetic methodologies.