Primarily used as an intermediate in the synthesis of more complex chemical compounds, particularly in the pharmaceutical and agrochemical industries. It plays a crucial role in the production of thyroid hormone analogs and other iodine-containing organic molecules. Additionally, it is utilized in research and development for creating novel compounds with potential therapeutic or agricultural applications. Its iodine content makes it valuable in radiopharmaceuticals for diagnostic imaging. In agrochemicals, it contributes to the formulation of pesticides and herbicides, enhancing their effectiveness.