Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of compounds with biological activity. Its structure supports the creation of more complex molecules due to the presence of both hydroxyl and double bond functionalities, which are reactive sites for further chemical transformations. Commonly employed in research settings for designing fluorinated organic compounds, where the trifluoromethyl group enhances metabolic stability and lipophilicity. Also utilized in the preparation of liquid crystals and functional materials where specific polarity and electronic properties are required.