Primarily used in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs, particularly those targeting central nervous system disorders. Its trifluoromethoxy group enhances the biological activity and stability of the resulting compounds, making it valuable in medicinal chemistry. Additionally, it is employed in agrochemical research for developing pesticides and herbicides, leveraging its unique chemical structure to improve efficacy and selectivity. The compound also finds applications in material science, where it is used to create specialized polymers and coatings with enhanced properties such as resistance to harsh environmental conditions.