Used as a key intermediate in the synthesis of dyes and pigments, particularly for producing naphthoic acid derivatives that contribute to color stability and lightfastness. Employed in the development of agrochemicals, serving as a building block for herbicides and plant growth regulators due to its ability to influence auxin-like activity. Also utilized in research for preparing fluorescent probes and organic semiconductors, where its aromatic structure supports electron delocalization and enhances photophysical properties.