Used as a key intermediate in organic synthesis, particularly in the preparation of cyclopropane-containing pharmaceuticals and bioactive molecules. Its ester and hydroxyl functional groups allow for further chemical modifications, making it valuable in constructing complex ring systems. Commonly employed in the development of antiviral and anti-inflammatory agents due to the metabolic stability imparted by the cyclopropane ring. Also utilized in the synthesis of agrochemicals and specialty polymers where rigid structural motifs are required.