This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its trifluoromethyl group is particularly valuable in pharmaceutical research, as it can enhance the metabolic stability and bioavailability of drug candidates. Additionally, it is employed in the development of agrochemicals, where the presence of the trifluoromethyl group can improve the efficacy and selectivity of pesticides and herbicides. The compound's structure also makes it a useful building block in material science, particularly in the creation of advanced polymers and coatings with unique properties.