This chemical is primarily utilized in organic synthesis as a versatile building block for the construction of complex molecules. It is often employed in cross-coupling reactions, such as the Heck reaction, to form carbon-carbon bonds, which are crucial in the development of pharmaceuticals and fine chemicals. Additionally, its iodine atom makes it a valuable intermediate in the preparation of other functionalized acrylates, which are used in the production of polymers, coatings, and adhesives. The compound’s reactivity also allows it to serve as a precursor in the synthesis of biologically active compounds, including potential drug candidates.