This chemical is primarily utilized in the field of asymmetric synthesis and chiral resolution, where its unique spirobiindane structure serves as a key building block for creating chiral ligands and catalysts. These ligands are often employed in enantioselective reactions, particularly in the pharmaceutical industry, to produce optically active compounds with high stereochemical purity. Additionally, its dicarboxylic acid functionality allows it to act as a versatile intermediate in the synthesis of complex organic molecules, including natural products and advanced materials. Its rigid framework also makes it suitable for designing molecular recognition systems and supramolecular architectures.