This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its unique spirocyclic framework makes it valuable in the design and synthesis of novel pharmaceuticals, particularly in the creation of compounds with potential biological activity. Additionally, it can be employed in the production of specialty chemicals, including fragrances and flavoring agents, due to its ability to introduce specific structural motifs. Researchers also explore its use in material science, where it may serve as a building block for polymers or other advanced materials with tailored properties. Its ethoxy and hydroxyl groups further enhance its reactivity, enabling diverse chemical modifications for targeted applications.