Used as a versatile intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for creating complex molecules due to its oxetane ring, which can enhance the stability and bioavailability of active compounds. It is also employed in the development of polymers and coatings, where its unique structure contributes to improved material properties such as adhesion and flexibility. Additionally, it finds use in research and development for exploring new chemical reactions and pathways.