This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting inflammation and pain, as its structure can be incorporated into molecules that inhibit specific enzymes or receptors involved in these processes. Additionally, it finds application in agrochemical research for creating advanced crop protection agents. Its trifluoromethoxy group enhances the stability and bioavailability of the final compounds, making it a crucial building block in medicinal and agricultural chemistry.