Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) requiring rigid cyclobutane scaffolds. Its strained ring structure contributes to unique conformational properties, making it valuable in medicinal chemistry for modulating potency and metabolic stability. Also employed in the preparation of agrochemicals and specialty polymers where steric hindrance and structural rigidity are advantageous. Its carboxylic acid functionality allows for easy derivatization into esters, amides, and other functional groups for further chemical transformations.