Used as a key intermediate in organic synthesis, particularly in the preparation of cyclobutane-containing compounds which are of interest in pharmaceutical and agrochemical research. Its structure allows for versatile reactivity, especially in cycloaddition and nucleophilic addition reactions. Commonly employed in the development of bioactive molecules where a strained ring system enhances binding affinity or metabolic stability. Also utilized in the synthesis of specialty esters and functionalized carbocycles for materials science applications.