This chemical is primarily utilized in the synthesis of pharmaceuticals and fine chemicals due to its unique oxetane ring structure, which can enhance the metabolic stability and bioavailability of drug molecules. It serves as a versatile building block in organic synthesis, particularly in the development of prodrugs and active pharmaceutical ingredients (APIs). Additionally, it is employed in the production of polymers and coatings, where its oxetane group can improve material properties such as adhesion, flexibility, and chemical resistance. Its application extends to research and development in medicinal chemistry, where it is used to explore new drug candidates and optimize existing compounds.