Cyclobutyl phenyl ketone finds its primary application in organic synthesis, particularly as a building block for more complex molecules. It is often used in the development of pharmaceuticals, where its unique structure can contribute to the creation of novel drug compounds. Additionally, it serves as a key intermediate in the synthesis of various organic materials, including polymers and specialty chemicals. Its presence in research laboratories is notable for its role in studying cyclobutane ring systems and their reactivity, which is valuable in the field of medicinal chemistry.