This chemical is widely used in organic synthesis as a versatile intermediate. It plays a key role in the production of cyclopropane-containing compounds, which are valuable in pharmaceutical research for developing drugs with specific biological activities. Its structure allows it to act as a building block for creating complex molecules, particularly in the synthesis of antiviral and anticancer agents. Additionally, it is utilized in the development of agrochemicals, contributing to the creation of pesticides and herbicides with enhanced efficacy. Its reactivity and stability make it a preferred choice in various chemical transformations, including ring-opening reactions and esterifications.