This chemical is primarily used in organic synthesis as a building block for more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic properties. Its unique structure allows it to participate in various chemical reactions, such as cycloadditions and nucleophilic substitutions, making it valuable in the synthesis of heterocyclic compounds. Additionally, it is utilized in research settings to study reaction mechanisms and develop new synthetic methodologies. Its nitro and ethynyl groups make it a versatile intermediate in the production of dyes, agrochemicals, and other specialty chemicals.