This chemical is primarily utilized in organic synthesis, particularly in the development of complex molecules. It serves as a versatile building block in the creation of pharmaceuticals, agrochemicals, and specialty chemicals. The presence of both allyl and propargyl groups allows for diverse reactivity, enabling its use in click chemistry and other advanced synthetic methodologies. Additionally, it is employed in the preparation of polymer precursors and functional materials, where its unique structure contributes to the desired properties of the final product.