This compound is primarily utilized in organic synthesis as a chiral building block for the creation of complex molecules. Its unique cyclopropane structure, combined with the hydroxyl and pentenyl functional groups, makes it valuable in the development of pharmaceuticals, particularly in the synthesis of chiral drugs where stereochemistry plays a critical role. Additionally, it is employed in the preparation of fine chemicals and intermediates for agrochemicals, leveraging its reactivity in cyclopropanation and ring-opening reactions. Its application also extends to materials science, where it can be used to modify polymers or create specialized coatings with tailored properties.