Used in the synthesis of pharmaceutical compounds, particularly in the development of prodrugs to enhance drug delivery and bioavailability. It serves as a key intermediate in organic synthesis, often employed in the creation of complex molecules for medicinal chemistry research. Additionally, it is utilized in the study of cyclobutane derivatives, which are of interest in the development of novel therapeutic agents. Its application extends to the field of materials science, where it contributes to the design of advanced polymers and coatings with specific functional properties.