Used in organic synthesis as a versatile building block for creating complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the preparation of heterocyclic compounds, which are essential in drug discovery. Its propargyl group allows for click chemistry reactions, enabling efficient and selective coupling with other molecules. Additionally, it is employed in the synthesis of polymers and advanced materials, contributing to innovations in material science. Its aldehyde functionality also makes it useful in the production of Schiff bases and other organic derivatives.