This chemical is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its unique structure, which includes a trifluoromethyl group and a carboxylic acid moiety. It serves as a key intermediate in the development of active compounds, particularly in the creation of herbicides and fungicides, where the trifluoromethyl group enhances the biological activity and stability of the final product. Additionally, it is employed in medicinal chemistry for designing drug candidates, especially in the development of anti-inflammatory and antimicrobial agents. Its versatile reactivity allows for further functionalization, making it a valuable building block in organic synthesis.