Used primarily as an intermediate in the synthesis of various organic compounds, particularly in the production of dyes and pigments. It plays a role in the manufacture of agrochemicals, including herbicides and pesticides, due to its reactivity and ability to introduce nitro and iodo groups into molecules. Additionally, it is utilized in pharmaceutical research for developing new drug candidates, especially in the creation of complex chemical structures. Its properties make it valuable in organic synthesis for constructing aromatic compounds with specific functional groups.