Used primarily in organic synthesis as a versatile intermediate, this compound facilitates the introduction of functional groups into complex molecules. Its iodoethoxy and ester groups make it valuable in constructing pharmaceutical compounds, particularly in the development of prodrugs and active pharmaceutical ingredients (APIs). It is also employed in polymer chemistry to modify and enhance the properties of materials. Additionally, its reactivity allows for use in cross-coupling reactions, enabling the formation of carbon-carbon bonds in advanced chemical processes.