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 developing compounds with enhanced metabolic stability and binding affinity. Also employed in the preparation of agrochemicals and specialty polymers due to the presence of both carboxylic acid and trifluoromethyl groups, which contribute to improved lipophilicity and chemical resistance.