This chemical is primarily utilized as a building block in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its unique spirocyclic structure makes it a valuable intermediate for creating complex molecules with specific biological activities. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery for targeting various diseases. Additionally, it finds application in the preparation of ligands for catalysis, aiding in the development of efficient chemical processes. Its stability and reactivity also make it suitable for use in material science, particularly in the design of advanced polymers and coatings.