Used primarily as an intermediate in organic synthesis, particularly in the production of dyes, pharmaceuticals, and agrochemicals. It serves as a key building block for introducing nitro and iodine functional groups into more complex molecules. In pharmaceutical research, it is utilized in the development of compounds with potential biological activity. Additionally, it finds application in material science for creating specialized polymers and coatings. Its reactivity makes it valuable in cross-coupling reactions, enabling the formation of carbon-carbon bonds in advanced chemical processes.