This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting neurological and inflammatory disorders. Its unique cyclopropane structure allows it to act as a rigid scaffold, enhancing the stability and specificity of potential drug candidates. Additionally, it is explored in the synthesis of advanced materials, where its aromatic and cyclic properties contribute to the development of organic semiconductors and liquid crystals. Researchers also investigate its potential in agrochemical applications, particularly in the design of novel pesticides and herbicides.