Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of radiopaque contrast agents for medical imaging. Its iodine content makes it valuable in creating compounds with high X-ray absorption. Also employed in organic synthesis where halogenated phenols are required, especially in coupling reactions and the preparation of complex aromatic structures. Shows utility in research settings for developing antimicrobial agents due to the bioactive nature of iodinated phenolic compounds.