This chemical is primarily utilized in the field of organic synthesis, particularly in the development of complex molecular structures. Its unique bicyclic framework makes it a valuable building block for constructing chiral compounds, which are essential in the production of pharmaceuticals and fine chemicals. Additionally, it serves as a ligand in asymmetric catalysis, enabling the creation of enantiomerically pure substances. This is crucial in industries such as drug manufacturing, where the chirality of a molecule can significantly impact its efficacy and safety. Furthermore, its rigid structure is exploited in materials science for designing advanced polymers and coatings with specific mechanical and thermal properties.