Used primarily as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure contains both ester and ketone functional groups, making it valuable for building complex molecules through reactions such as nucleophilic additions, reductions, and cyclizations. Commonly employed in the development of bioactive compounds, including drug candidates targeting central nervous system disorders and anti-inflammatory agents. Also utilized in the synthesis of specialty polymers and as a building block in medicinal chemistry research due to its rigid cyclobutane backbone and reactivity profile.