Used in organic synthesis as a versatile intermediate for the preparation of various cyclopropane-containing compounds. It plays a key role in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) with cyclopropane moieties. Additionally, it is utilized in the production of agrochemicals, where cyclopropane structures are essential for creating effective pesticides and herbicides. Its reactivity and stability make it valuable in constructing complex molecular frameworks in research and industrial applications.