This compound is primarily utilized in the pharmaceutical and agrochemical industries as a key intermediate in the synthesis of more complex molecules. Its trifluoromethyl group enhances the biological activity and metabolic stability of the final products, making it valuable in the development of drugs and pesticides. Additionally, its oxetane ring structure contributes to improved solubility and bioavailability, which is crucial for effective drug formulations. Researchers also explore its potential in creating novel materials with unique properties for industrial applications.