This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and agrochemicals. Its unique spirocyclic structure makes it valuable in the development of complex molecules, particularly in the creation of bioactive compounds. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery and development. Additionally, it serves as a precursor in the preparation of specialty chemicals used in materials science, particularly in the design of polymers and advanced materials with specific functional properties.