Used primarily as an intermediate in organic synthesis, especially in the preparation of pharmaceuticals and agrochemicals. Its structure allows for participation in cycloaddition and coupling reactions, making it valuable in constructing complex aromatic and heterocyclic systems. Commonly employed in research settings to develop fluorescent dyes and functional materials due to the reactivity of the ethynyl and nitro groups. Also finds use in the synthesis of bioactive molecules where the nitro group can be reduced to an amine for further derivatization.