Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its functional groups allow for selective reactions, such as cross-coupling reactions in the construction of complex naphthalene-based structures. Commonly employed in the development of fluorescent dyes and optoelectronic materials due to the naphthalene core's inherent photophysical properties. Also utilized in the synthesis of ligands for catalytic processes and in medicinal chemistry for building bioactive molecules.