Used as a key building block in medicinal chemistry, particularly in the development of bioisosteres for phenyl and other aromatic rings. Its rigid three-dimensional structure helps improve metabolic stability, solubility, and binding selectivity in drug candidates. Commonly employed in the synthesis of high-value intermediates for pharmaceuticals and agrochemicals, especially where sp³-rich scaffolds are desired to enhance success in lead optimization. Also utilized in materials science for creating novel polymers with unique steric and electronic properties.