Used as a key intermediate in the synthesis of high-performance polymers and resins, particularly in the production of liquid crystalline polyesters and polyurethanes. Its rigid aromatic structure and two hydroxyl groups enable strong molecular alignment and thermal stability in polymer chains. Also employed in the development of specialty chemicals such as crosslinking agents and flame-retardant materials. Additionally, it serves as a building block in organic synthesis for functionalized naphthalene derivatives used in electronic materials and optical devices.