This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the creation of more complex molecules. Its unique spirocyclic structure makes it valuable in the development of pharmaceuticals, particularly in the design of drugs targeting neurological disorders. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form stable, colorful compounds. Researchers also explore its potential in material science, where it can be incorporated into polymers to enhance specific properties such as thermal stability or optical characteristics.