This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) due to its unique spirocyclic structure, which can impart specific stereochemical properties to the final product. Additionally, it is employed in the development of agrochemicals, where its structural framework contributes to the creation of novel pesticides or herbicides with enhanced efficacy. The compound's oxirane ring also makes it a valuable precursor in polymer chemistry, enabling the formation of epoxy resins and other specialty materials with tailored properties.