This chemical is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of complex molecules, particularly in the synthesis of biologically active compounds. Its unique structure, featuring an oxetane ring and an ester group, makes it valuable for constructing diverse molecular frameworks. It is often employed in the preparation of drug candidates, especially in the field of medicinal chemistry, where it contributes to the creation of compounds with potential therapeutic properties. Additionally, it is used in material science for designing novel polymers and coatings due to its reactive functional groups.