This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of dyes and pigments. Its structure makes it a valuable intermediate in the production of colorants used in textiles, inks, and coatings. Additionally, it finds application in research settings as a reagent for studying chemical reactions involving ester and nitro functional groups. Its role in the creation of specialized polymers and materials is also noteworthy, particularly in industries focused on advanced material science.