Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the production of certain herbicides and fungicides. It serves as a building block in organic reactions where halogenated phenols are required, especially in coupling reactions and halogen exchange processes. Its iodine content allows for further functionalization via cross-coupling reactions such as Suzuki or Heck reactions. Also employed in research settings for the development of new bioactive molecules due to its reactive halogen substituents.