Used primarily as an intermediate in the synthesis of agrochemicals and pharmaceuticals, this compound plays a crucial role in the development of herbicides and insecticides. Its trifluoromethyl group enhances the biological activity of the final products, making it effective in pest control. In the pharmaceutical industry, it is utilized in the creation of active ingredients for drugs targeting various diseases, including anti-inflammatory and anti-cancer agents. Its versatility in chemical reactions allows for the production of diverse derivatives, contributing to advancements in both agricultural and medicinal chemistry.