Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to the presence of both iodo and ester functional groups. The iodo group allows for further functionalization via cross-coupling reactions such as Suzuki or Heck couplings, enabling the construction of complex aromatic structures. Commonly employed in the development of bioactive molecules, including potential anti-inflammatory and anticancer agents. Also utilized in the preparation of liquid crystals and organic electronic materials where substituted aromatic esters serve as building blocks. Its methyl ester group can be hydrolyzed to yield the corresponding carboxylic acid for further derivatization.