Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system agents and antiviral drugs. Its strained cyclobutane ring enhances metabolic stability in drug candidates. Commonly employed in the preparation of gamma-aminobutyric acid (GABA) analogs and other bioactive molecules where ring structure influences receptor binding. Also utilized in agrochemicals for creating structurally rigid components that improve pest control efficacy. Serves as a building block in organic synthesis for ring-expansion reactions and in the preparation of specialty polymers with enhanced thermal properties.