Used as an alkylating agent in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It is effective in introducing propyl spacers with reactive handles due to the presence of both chlorine and iodine, which differ in reactivity—iodine being more labile facilitates selective substitution reactions. Commonly employed in the synthesis of heterocyclic compounds and functionalized polymers. Also utilized in the development of radiolabeled compounds for medicinal imaging, where the iodine moiety can be replaced with a radioactive isotope. Its bifunctional nature makes it valuable in cross-coupling reactions and in the construction of complex molecular architectures.