This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the production of various fine chemicals and pharmaceuticals. Its structure, featuring a phenyl group and a cyclopentane ring, makes it suitable for creating complex molecules with potential biological activity. It is often employed in the development of fragrances and flavoring agents due to its aromatic properties. Additionally, it plays a role in the synthesis of agrochemicals, contributing to the creation of pesticides or herbicides. Researchers also explore its use in material science, particularly in the design of specialized polymers or coatings.