This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its unique spirocyclic framework and functional groups make it valuable in pharmaceutical research, particularly in the design of drug candidates targeting neurological and metabolic disorders. The presence of the hydroxyethyl group allows for further chemical modifications, enabling the creation of derivatives with potential biological activity. Additionally, it is employed in material science for the synthesis of specialized polymers and coatings, where its structural properties contribute to enhanced performance characteristics. Its stability and reactivity also make it suitable for use in catalytic processes and as a building block in medicinal chemistry.