Used primarily in organic synthesis, it serves as a versatile building block for creating complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it finds application in polymer chemistry, where it is used to modify or enhance the properties of polymers, such as improving their flexibility or thermal stability. Its reactive oxetane ring makes it valuable in cross-linking reactions, contributing to the production of coatings, adhesives, and resins with improved performance characteristics.