Oxetane-2-carboxylic acid methyl ester is utilized in the synthesis of various pharmaceutical compounds, particularly as a building block in the development of drugs with targeted biological activities. Its oxetane ring structure is valuable for enhancing the metabolic stability and bioavailability of drug molecules. It is also employed in organic synthesis to create complex molecules, including polymers and fine chemicals, due to its reactivity and unique ring-opening properties. Additionally, it finds application in the production of specialty materials, such as coatings and adhesives, where its chemical structure contributes to improved performance characteristics.