Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of more complex cyclopropane-containing molecules. Its acetal functionality provides stability while allowing for controlled release of carbonyl compounds under acidic conditions. It is employed in the development of pharmaceuticals and agrochemicals where the cyclopropane ring acts as a bioisostere or conformational restrictor. Additionally, it finds use in fragrance chemistry due to the unique steric and electronic properties imparted by the strained ring system.