This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of more complex molecules. Its cyclopropane ring structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of bioactive compounds with potential therapeutic properties. Additionally, it serves as a building block in the creation of agrochemicals, contributing to the formulation of pesticides or herbicides. The ester functional group in the molecule allows for further chemical modifications, enabling its use in the production of fine chemicals and specialty materials. Its application extends to research settings, where it is employed in the study of cyclopropane chemistry and ring-strain reactions.