Used as a key intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the production of pyrethroid insecticides. Its cyclopropylidene structure enables efficient construction of cyclopropane rings, which are common in bioactive molecules. It is also employed in organic synthesis to introduce functionalized cyclopropane units through nucleophilic or cycloaddition reactions. Due to its reactivity, it serves in the development of specialty chemicals requiring strained ring systems.