Iodobenzene is widely used as a key intermediate in organic synthesis, particularly in cross-coupling reactions such as the Suzuki and Heck reactions, which are essential for creating complex organic molecules in pharmaceuticals and agrochemicals. It serves as a precursor in the production of aryl compounds, including dyes, polymers, and liquid crystals. Additionally, iodobenzene is utilized in the synthesis of hypervalent iodine reagents, which are valuable in oxidation reactions and functional group transformations. Its role in the preparation of fine chemicals and active pharmaceutical ingredients (APIs) makes it a significant compound in industrial and research applications.