This compound is primarily utilized in organic synthesis as a chiral building block for the construction of complex molecules. Its cyclopropane ring structure and functional groups make it valuable in the development of pharmaceuticals, particularly in the synthesis of biologically active compounds. It is often employed in asymmetric synthesis to create enantiomerically pure substances, which are crucial in drug development. Additionally, it serves as an intermediate in the production of fine chemicals and agrochemicals, where its unique structure contributes to the desired properties of the final product.