This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its cyclopropane ring structure makes it valuable for constructing pharmacologically active compounds, particularly in the development of drugs targeting the central nervous system. Additionally, it is employed in the synthesis of agrochemicals, where its unique chemical framework contributes to the creation of effective pesticides and herbicides. The presence of the methoxy group enhances its reactivity, making it a versatile building block in various chemical reactions, including cyclopropanation and esterification processes.