Used primarily as a reagent in organic synthesis, enabling the introduction of cyclopropyl groups into complex molecules. Its strained ring structure enhances reactivity in transition-metal-catalyzed coupling reactions, making it valuable in pharmaceutical and agrochemical development. It serves as a building block for creating cyclopropane-containing compounds, which are common motifs in bioactive molecules due to their metabolic stability and conformational rigidity. Also employed in the preparation of specialty intermediates for materials science and in the study of reaction mechanisms involving strained carbocycles.