Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its naphthalene ring system contributes to lipophilicity, making it suitable for modifying drug molecules to enhance membrane permeability. Also employed in the development of non-steroidal anti-inflammatory agents due to its structural similarity to known NSAID scaffolds. Additionally, it serves as a building block in the synthesis of specialty polymers and agrochemicals where aromatic and steric bulk are required.