This chemical is primarily utilized in organic synthesis as a versatile building block for the creation of more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of compounds with cyclopropane rings, which are known for their biological activity. Additionally, it is employed in the synthesis of agrochemicals, contributing to the formulation of pesticides and herbicides. Its unique structure also makes it valuable in materials science, where it is used to develop specialized polymers and coatings with enhanced properties. In research, it is often used to study cyclopropanation reactions and to explore new synthetic pathways in organic chemistry.