Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various agrochemicals and pharmaceuticals. Its trifluoromethoxy group enhances the biological activity of molecules, making it valuable in the development of herbicides, insecticides, and fungicides. Additionally, it is employed in the synthesis of liquid crystals and specialty polymers, where its unique chemical structure contributes to desired material properties. In research, it is utilized as a building block for creating complex organic compounds, particularly in the field of medicinal chemistry.