Used primarily in the development of agrochemicals, this compound plays a crucial role in the synthesis of insecticides targeting a broad spectrum of pests. Its structure is integral in creating molecules that disrupt the nervous system of insects, providing effective crop protection. Additionally, it is explored in pharmaceutical research for its potential in designing novel therapeutic agents due to its unique oxetane ring, which can enhance drug stability and bioavailability. Its applications extend to material science, where it is studied for its utility in developing advanced polymers with specific mechanical and chemical properties.