Used primarily as an intermediate in organic synthesis, particularly in the preparation of cyclopropane-containing compounds which are important in pharmaceuticals and agrochemicals. Its structure allows for ring-opening reactions and functional group transformations, making it valuable in constructing complex molecules. Commonly employed in the development of bioactive agents where the cyclopropane moiety enhances metabolic stability and binding affinity. Also utilized in fragrance synthesis due to the stability and unique electronic properties it imparts to ester-based aroma compounds.