This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate in the production of more complex molecules. Its unique structure, featuring a cyclopropyl ring and a methanol group, makes it valuable for constructing specialized chemical frameworks. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Additionally, its application extends to material science, where it can be used to modify polymers or create novel materials with specific properties. Researchers also explore its use in catalysis and as a building block in fine chemical manufacturing.