Used as an intermediate in organic synthesis, particularly in the production of specialty monomers and crosslinking agents for polymer chemistry. Its alkyne and hydroxyl functional groups allow for participation in click chemistry reactions, such as copper-catalyzed azide-alkyne cycloaddition (CuAAC), making it valuable in bioconjugation, pharmaceutical research, and materials science. The compound is also utilized in the development of functional resins, coatings, and adhesives where controlled reactivity and hydrophilic properties are required. Its bifunctional nature enables the construction of complex molecular architectures in fine chemical synthesis.