Used primarily in organic synthesis, it serves as a key reagent for introducing the naphthoyl group into various compounds. It is widely employed in the production of dyes, pigments, and pharmaceuticals, where it acts as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it is utilized in the preparation of agrochemicals, including herbicides and insecticides, due to its ability to form stable derivatives. In polymer chemistry, it is applied to modify polymers and enhance their properties. Its reactivity with amines and alcohols makes it valuable in creating esters and amides for specialized industrial applications.