Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for the introduction of cyclopropyl groups into target molecules, which can enhance biological activity or stability. In medicinal chemistry, it is often employed to develop compounds with potential therapeutic effects, such as enzyme inhibitors or receptor modulators. Additionally, it finds utility in the synthesis of fine chemicals and specialty materials, where its reactivity and unique functional groups enable the creation of complex molecular architectures.