Used as a reagent in organic synthesis, particularly in the preparation of quaternary ammonium salts. It is employed in the production of pharmaceuticals, where it acts as an intermediate in the synthesis of various drugs. Additionally, it finds application in the manufacture of agrochemicals, including pesticides and herbicides. In research laboratories, it is utilized for methylation reactions and as a catalyst in certain chemical processes. Its role in the synthesis of iodine-containing compounds is also significant, making it valuable in specialized chemical industries.