Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and fine chemicals. It serves as a building block for more complex aromatic compounds due to its reactive double bond within the fused ring system. Commonly employed in hydrogenation and oxidation reactions to yield tetralin or naphthalene derivatives. Also utilized in research settings for studying pericyclic reactions and cyclization processes. Its ability to act as a diene in Diels-Alder reactions makes it valuable in creating polycyclic structures found in natural products and advanced materials.