Used primarily as a synthetic intermediate in organic chemistry, particularly in the preparation of pharmaceuticals and agrochemicals. Its strained cyclopropane ring enables unique reactivity, making it valuable in ring-opening and rearrangement reactions. It serves as a building block in the synthesis of more complex cyclopropyl-containing compounds, which are often found in bioactive molecules. Additionally, it has been explored in the development of fragrance components due to its aromatic and structural characteristics.