Used as a key intermediate in organic synthesis, particularly in the preparation of cyclobutane-based pharmaceuticals and bioactive molecules. Its rigid cyclobutane core helps influence molecular geometry in drug design, enhancing selectivity and metabolic stability. Commonly employed in ester hydrolysis and decarboxylation reactions to generate functionalized cyclobutane derivatives. Also utilized in the development of agrochemicals and specialty polymers where strained ring systems contribute to unique material properties.