Used primarily in organic synthesis as a building block for more complex molecules, it plays a crucial role in the development of pharmaceuticals and agrochemicals. Its structure allows for the introduction of trifluoromethyl groups into target compounds, enhancing their biological activity and stability. Additionally, it is employed in the production of specialty chemicals where the trifluoromethyl group is essential for desired properties, such as increased lipophilicity or metabolic resistance. Its application extends to research and development in medicinal chemistry, where it aids in the creation of novel drug candidates with improved efficacy.