Used in organic synthesis, particularly as a versatile building block for creating complex molecules. It serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and fine chemicals. Its strained ring structure makes it valuable for ring-opening reactions, enabling the formation of new carbon-carbon and carbon-heteroatom bonds. Additionally, it is employed in polymer chemistry to modify or enhance material properties. Its reactivity and stability under various conditions make it a useful component in research and industrial applications.