Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building fluorinated compounds, which often exhibit enhanced metabolic stability and improved bioavailability. Also employed in the development of liquid crystals and agrochemicals due to its electron-withdrawing trifluoromethyl group and phenolic reactivity.