Used as an intermediate in organic synthesis, particularly in pharmaceuticals and agrochemicals. Its aldehyde functionality allows for transformations such as reductions, oxidations, and condensation reactions. Commonly employed in the preparation of cyclobutane-containing compounds, which are gaining interest in drug development due to their metabolic stability and favorable conformational properties. Also utilized in the synthesis of specialty polymers and as a building block in the construction of strained ring systems for medicinal chemistry research.