Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical industries. It serves as a building block for constructing complex molecules due to the presence of multiple reactive sites — the ester group, nitro group, and iodine substituent. The iodine allows for cross-coupling reactions such as Suzuki or Heck reactions, enabling the formation of carbon-carbon bonds. The nitro group can be reduced to an amine, facilitating the synthesis of amino derivatives important in dye and drug development. Its ester functionality can undergo hydrolysis or transesterification to modify solubility or reactivity in multi-step syntheses. Commonly employed in research settings for the development of bioactive compounds and functionalized aromatic systems.