This chemical is primarily used in organic synthesis as a building block for more complex molecules. It is particularly valuable in the preparation of pharmaceuticals and agrochemicals due to its reactive functional groups, which allow for further modifications. The ethynyl group enables it to participate in click chemistry reactions, making it useful in the development of polymers and materials with specific properties. Additionally, it serves as an intermediate in the synthesis of fine chemicals and specialty compounds, contributing to advancements in material science and drug discovery.