Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of agrochemicals and bioactive molecules. Its structure supports the creation of pyrazole-based compounds known for insecticidal, fungicidal, and herbicidal activities. Also employed in medicinal chemistry for designing kinase inhibitors and anti-inflammatory agents due to the stability and polarity imparted by the trifluoromethyl group. The hydroxyl functionality allows further derivatization, making it valuable in building complex molecules for drug discovery and crop protection products.