This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly in the synthesis of compounds with potential therapeutic properties. Its cyclopropane ring structure is often exploited to enhance the stability and efficacy of drug candidates. Additionally, it is used in the study of structure-activity relationships (SAR) to optimize the pharmacological profile of new drugs. Researchers also explore its applications in material science, where it may contribute to the development of novel polymers or coatings with specific properties.