This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. It serves as a building block for creating more complex molecules due to its cyclopropane ring structure, which is a valuable motif in drug design. The compound is also utilized in the development of agrochemicals, where its derivatives can exhibit bioactive properties. Additionally, it finds application in material science for synthesizing polymers and specialty chemicals with unique properties. Its ester groups make it a versatile reagent for various chemical transformations, including esterification and cyclization reactions.