This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the development of pharmaceuticals and agrochemicals. Its unique spirocyclic structure makes it a valuable intermediate in the creation of molecules with specific biological activities. Additionally, it is employed in the production of specialty polymers and resins, where its functional groups contribute to the material's stability and performance. The compound is also explored in research for its potential use in creating novel materials with applications in electronics and coatings.