Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and agrochemicals due to the reactivity of the iodomethyl group. The iodine atom acts as a good leaving group, making it suitable for substitution reactions, particularly in the formation of carbon-carbon bonds via nucleophilic substitution or cross-coupling reactions. It is also employed in the synthesis of functionalized aromatic compounds used in materials science and medicinal chemistry. Its ethyl and iodomethyl substituents allow for selective modifications, enabling the construction of complex molecules in research and development settings.