This chemical is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of compounds with potential therapeutic properties. Its structure is valuable in organic synthesis, often serving as a key building block for creating more complex molecules. Researchers leverage its cyclobutane ring and functional groups to explore novel drug candidates, especially in areas like anti-inflammatory or antimicrobial agents. Additionally, it may be employed in material science for designing specialized polymers or coatings with unique properties. Its application is largely confined to laboratory settings, where it aids in advancing chemical research and innovation.