Used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting central nervous system disorders. It serves as a key intermediate in the production of agrochemicals, including herbicides and insecticides, due to its trifluoromethoxy group enhancing biological activity. Additionally, it is utilized in research for creating novel organic materials with potential applications in electronics and coatings. Its unique structure makes it valuable in medicinal chemistry for designing molecules with improved efficacy and stability.