Cyclopropanecarboxylic anhydride is primarily used in organic synthesis as a reagent for introducing the cyclopropane ring into various molecules. Its application is significant in the pharmaceutical industry, where it serves as a building block for the synthesis of cyclopropane-containing drugs. These drugs often exhibit unique biological activities due to the strained three-membered ring structure, which can enhance binding affinity to target proteins or enzymes.

In material science, it is utilized in the preparation of polymers and resins with specific mechanical properties. The cyclopropane ring can impart rigidity and stability to the polymer backbone, making it useful in the development of high-performance materials.

Additionally, it finds use in agrochemical research for the synthesis of cyclopropane-based pesticides and herbicides. The structural motif of cyclopropane can contribute to the effectiveness of these compounds by improving their interaction with biological targets in pests or weeds.

Overall, its versatility in forming cyclopropane derivatives makes it a valuable compound in various fields of chemical research and industrial applications.