Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. It serves as a building block in the preparation of heterocyclic compounds and bioactive molecules. Commonly employed in cross-coupling reactions, such as Suzuki and Heck reactions, due to the presence of the iodine atom, which facilitates metal-catalyzed transformations. Also utilized in the development of dyes, fragrances, and functional materials where aromatic ester derivatives are required.