Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various agrochemicals and pharmaceuticals. It is particularly valuable in the synthesis of cyclopropane-containing molecules, which are often explored for their biological activity. In agriculture, it contributes to the development of plant growth regulators and pesticides, enhancing crop yield and protection. In the pharmaceutical industry, it aids in the creation of potential drug candidates, especially those targeting neurological and cardiovascular diseases. Its unique structure allows for the introduction of the cyclopropane ring, a feature that can improve the stability and efficacy of active compounds.