Primarily utilized in organic synthesis, this compound serves as a versatile building block for the introduction of trifluoromethyl groups into more complex molecules. Its application is significant in the pharmaceutical industry, where it aids in the development of drugs with enhanced metabolic stability and bioavailability due to the presence of trifluoromethyl groups. Additionally, it is employed in the creation of agrochemicals, contributing to the production of pesticides and herbicides with improved efficacy. The compound is also valuable in material science, particularly in the synthesis of advanced polymers and coatings that require specific electronic properties and chemical resistance.