Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of dyes and pigments due to its aromatic amine structure, which allows for the creation of complex colorants. Additionally, it plays a role in the synthesis of specialty chemicals used in research and industrial applications, where its iodine and methyl groups contribute to specific reactivity and functionalization in chemical reactions. Its applications also extend to the field of material science, where it aids in the creation of advanced polymers and coatings.