Used as an intermediate in organic synthesis, particularly in the pharmaceutical industry for constructing cyclopropane-containing compounds. Its reactive chloromethyl group allows for alkylation and substitution reactions, making it valuable in the development of active pharmaceutical ingredients (APIs). Commonly employed in the preparation of ester prodrugs and in the synthesis of biologically active molecules where the cyclopropane ring enhances metabolic stability and binding affinity. Also utilized in agrochemical synthesis for creating structurally complex pesticides with improved efficacy.