Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of active ingredients requiring aryl iodide functionality for coupling reactions. Its structure allows for selective functionalization in organic synthesis, making it valuable in the development of complex molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build carbon-carbon bonds. Also utilized in the production of specialty polymers and liquid crystals due to its aromatic and halogenated nature, which can influence material properties like thermal stability and polarity.