This chemical is primarily used in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its structure, featuring both an alkyne and a hydroxyl group, makes it versatile for various chemical reactions, including coupling and polymerization processes. Additionally, it is employed in the development of fragrances and flavors due to its unique chemical properties that can contribute to desirable aromatic compounds. In research, it is utilized to study reaction mechanisms and develop new synthetic pathways.