This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its structure, featuring both a phenol group and an iodine atom, makes it suitable for various coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in creating biologically active molecules. Additionally, it finds application in materials science, where it is used to modify polymers or create specialized coatings with enhanced properties. Its tert-butyl group contributes to steric hindrance, which can be advantageous in controlling reaction specificity and product stability.