Used primarily as an intermediate in organic synthesis, particularly in the production of dyes, pharmaceuticals, and agrochemicals. It serves as a key reagent in the preparation of various nitrobenzyl derivatives, which are essential in the development of photosensitive compounds. Additionally, it is employed in the synthesis of protective groups for amines and alcohols in peptide chemistry. Its reactivity makes it valuable in cross-coupling reactions and as a building block for more complex organic molecules.