This compound is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its unique trifluoromethoxy group, which enhances biological activity and stability. It serves as a key intermediate in the development of drugs targeting various diseases, including central nervous system disorders and inflammatory conditions. Additionally, it is employed in the production of herbicides and pesticides, where the trifluoromethoxy group improves efficacy and resistance to degradation. Its role in organic synthesis also extends to the creation of advanced materials, such as liquid crystals and polymers, where its structural properties contribute to desired performance characteristics.