3-Iodophenyl acetate is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of more complex chemical compounds, particularly in pharmaceutical research and development. Its iodine moiety makes it a valuable building block for cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in creating biologically active molecules. Additionally, it serves as a precursor in the synthesis of various aromatic compounds, contributing to the development of agrochemicals and specialty chemicals. Its application extends to material science, where it is used in the design of advanced polymers and functional materials.