This compound is primarily utilized in organic synthesis as a versatile building block for the preparation of more complex molecules. Its cyclopropane ring structure, combined with functional groups like the ethoxycarbonyl and carboxylic acid, makes it a valuable intermediate in the synthesis of pharmaceuticals and agrochemicals. Specifically, it is often employed in the development of active pharmaceutical ingredients (APIs) where the cyclopropane moiety is crucial for biological activity. Additionally, its reactivity allows for further modifications, enabling the creation of derivatives with potential applications in drug discovery and material science.