Used primarily as an intermediate in organic synthesis, especially in the pharmaceutical and agrochemical industries. Its structure contains both iodo and nitro functional groups, making it suitable for cross-coupling reactions such as Suzuki or Heck reactions, where the iodine acts as a reactive site for bond formation. The electron-withdrawing nitro group enhances reactivity in nucleophilic substitution and facilitates ring modifications. It is also employed in the preparation of substituted aromatic compounds, including bioactive molecules and functionalized benzoic acid derivatives. Due to the presence of the ester group, it can undergo hydrolysis or reduction to yield carboxylic acids or alcohols for further synthetic elaboration.