This chemical is primarily used in organic synthesis, particularly in the development of advanced materials and pharmaceuticals. It serves as a key intermediate in the production of conjugated polymers, which are essential for creating organic semiconductors used in electronic devices like OLEDs and solar cells. Additionally, it is employed in cross-coupling reactions, such as Sonogashira coupling, to form complex aromatic structures. Its phenylacetylene moiety makes it valuable in the synthesis of bioactive compounds and molecular probes for research in medicinal chemistry.