Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of cyclopropane-containing molecules, which are often explored for their bioactive properties. The compound is also employed in research settings to study the effects of cyclopropane rings in drug design, as they can influence the stability and activity of therapeutic agents. Additionally, it finds utility in the synthesis of natural products and complex organic molecules, where the cyclopropane ring plays a crucial role in the structural framework.