This chemical is primarily utilized in the pharmaceutical and agrochemical industries due to its unique structure and properties. In pharmaceuticals, it serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs), particularly those targeting diseases like cancer, inflammation, and microbial infections. Its trifluoromethyl group enhances the biological activity and stability of the resulting compounds. In agrochemicals, it is employed in the development of pesticides and herbicides, where it contributes to the effectiveness of these products by improving their ability to target specific pests or weeds. Additionally, its thiol group allows for further functionalization, making it a versatile building block in organic synthesis.