This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique spirocyclic structure makes it valuable for constructing intricate ring systems often found in pharmaceuticals and agrochemicals. Additionally, it is employed in the development of sulfur-containing compounds, which are crucial in materials science for creating polymers with specific properties. The presence of the methanol group further enhances its reactivity, allowing for versatile modifications in synthetic pathways.