This compound is primarily utilized in organic synthesis as a building block for creating more complex molecules. Its structure, featuring both a nitro group and a carboxylic acid, makes it valuable in the development of pharmaceuticals and agrochemicals. The nitro group can undergo reduction to form amines, which are essential in drug synthesis, while the acrylic acid moiety allows for further functionalization through reactions like esterification or amidation. Additionally, it may be used in the preparation of conjugated polymers or materials with potential applications in organic electronics due to its thiophene backbone, which contributes to electron delocalization. Its properties also make it suitable for research in designing fluorescent probes or sensors.