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 specialty chemicals, including surfactants and lubricants, due to its alkyne and alcohol functional groups. In research, it is utilized in click chemistry reactions, particularly in the formation of triazoles, which are valuable in pharmaceutical and material science applications. Additionally, it finds use in the development of polymers and coatings, where its unique structure contributes to enhanced properties such as flexibility and durability.