Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and biologically active compounds. Its structure allows for functional group transformations, making it valuable in constructing complex molecules. Commonly employed in carbonyl and ester reactions, it serves in the development of cyclobutane-containing derivatives, which are of interest in medicinal chemistry due to their metabolic stability and unique conformational properties. Also utilized in the synthesis of agrochemicals and specialty polymers where strained ring systems enhance material performance.