Used as a key intermediate in the synthesis of energetic binders for solid rocket propellants. Its strained oxetane ring enables high energy density and low viscosity when polymerized, improving mechanical properties and burn rate control. Commonly employed in the production of polyglycidyl nitrate (PGN) and other nitrate ester-based polymers used in insensitive munitions. Also utilized in pharmaceutical research for ring-opening reactions to build complex heterocyclic compounds. Its reactivity allows for easy functionalization, making it valuable in developing specialty polymers and bioactive molecules.