This chemical is primarily utilized in the pharmaceutical and agrochemical industries due to its unique trifluoromethyl group, which enhances the biological activity of compounds. It serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs), particularly those targeting specific enzymes or receptors. In agrochemicals, it is used to develop advanced pesticides and herbicides with improved efficacy and selectivity. Additionally, its furan ring structure makes it valuable in organic synthesis for constructing complex molecules with potential applications in material science and fine chemicals.