Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals due to the electron-withdrawing nature of the trifluoromethyl groups, which enhance metabolic stability and bioavailability. Commonly employed in the development of fungicides and herbicides. Also utilized in the preparation of liquid crystals and other specialty materials where thermal and chemical stability are required. Its phenolic structure allows for easy derivatization, making it valuable in medicinal chemistry for constructing complex molecules.