Used as a specialty solvent and intermediate in organic synthesis, particularly in the production of fine chemicals and pharmaceuticals. It serves as an acetylenic building block in reactions where a protected alkyne functionality is needed, allowing for selective transformations in multi-step syntheses. Its reactivity makes it valuable in the preparation of complex molecules, including active pharmaceutical ingredients and agrochemicals. Additionally, it can function as a monomer or cross-linking agent in certain polymer systems, contributing to the development of materials with unique thermal or mechanical properties.