This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of pharmaceuticals and specialty chemicals. It serves as a key intermediate in the production of certain drugs, including those targeting neurological and cardiovascular conditions. Additionally, it is employed in research settings for the creation of novel chemical entities with potential therapeutic applications. Its structure allows for further functionalization, making it valuable in the design of complex molecules. In industrial applications, it is used in the manufacture of dyes and other fine chemicals due to its reactive hydroxyl and nitro groups.