Ethyl 2-phenylcyclopropanecarboxylate is primarily used in organic synthesis as a versatile intermediate. It plays a significant role in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. The cyclopropane ring in its structure is valuable for creating biologically active molecules, often used in drug discovery and medicinal chemistry. Additionally, it serves as a building block in the synthesis of complex organic molecules, including agrochemicals and fine chemicals. Its unique structure allows for further functionalization, making it a useful component in various chemical reactions and research applications.