This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the construction of complex molecular frameworks, particularly in the development of pharmaceuticals and agrochemicals. The cyclopropane ring within its structure is a key feature that can impart unique biological activity or stability to the final compounds. Additionally, it serves as a precursor in the synthesis of fine chemicals and specialty materials, where its ester group can be further modified to introduce functional groups or enhance reactivity. Its application is also seen in research settings for studying cyclopropanation reactions and ring-opening transformations.