This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its cyclopropane ring structure makes it valuable for creating compounds with specific three-dimensional configurations, which are often required in pharmaceutical research. Additionally, it is used in the development of agrochemicals, particularly in the synthesis of pesticides and herbicides, due to its ability to impart unique biological activity. The compound's ester functional group also allows for further chemical modifications, making it versatile in various industrial applications.