Used primarily in the synthesis of advanced organic compounds, this chemical serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its unique structure allows for the introduction of trifluoromethyl groups, which are crucial in enhancing the biological activity and stability of various drugs. Additionally, it is employed in the development of specialty chemicals, including dyes and polymers, where its properties contribute to improved performance and durability. The compound is also utilized in research settings for studying reaction mechanisms and developing new synthetic pathways in organic chemistry.