Used as a building block in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its unique structure, featuring a cyclobutane ring with hydroxyl and fluorine groups, makes it valuable for creating compounds with specific biological activities. It is also employed in material science for designing advanced polymers and coatings, where its fluorinated cyclobutane ring can enhance properties like thermal stability and chemical resistance. Additionally, it serves as an intermediate in the production of fine chemicals and specialty materials.