Used primarily in organic synthesis, 2,4-Diiodophenol serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of iodine-containing compounds, which are essential in certain medical imaging agents and diagnostic reagents. Additionally, it finds application in the development of dyes and pigments due to its ability to introduce iodine atoms into organic molecules. Its role in cross-coupling reactions also makes it useful in creating complex organic structures for research and industrial purposes.