Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its nitro and iodo functional groups make it a versatile building block for constructing complex molecules through substitution and coupling reactions. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) for drugs targeting specific biological pathways. Additionally, it finds application in material science for the synthesis of advanced organic materials with potential use in electronics or coatings. Its reactivity and structural properties make it a useful reagent in research and industrial processes.