This compound is widely used in organic synthesis, particularly as an intermediate in the production of pharmaceuticals and agrochemicals. Its structure, featuring an iodine atom and a trifluoromethyl group, makes it a valuable building block for constructing complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to introduce aromatic rings with specific functional groups into target compounds. Additionally, its ester group allows for further functionalization, enabling the synthesis of a variety of derivatives. In medicinal chemistry, it is utilized in the development of drug candidates, especially those targeting diseases where fluorinated aromatic compounds are beneficial. Its unique properties also make it useful in material science for creating advanced polymers and coatings with specialized characteristics.