Used primarily as an intermediate in the synthesis of pharmaceuticals, especially nonsteroidal anti-inflammatory drugs (NSAIDs) like naproxen. Its structure allows for selective functionalization, making it valuable in creating chiral molecules through asymmetric synthesis. Also employed in the production of agrochemicals and specialty organic compounds where naphthalene derivatives are required. Its bromo and methoxy groups serve as reactive sites for coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex aromatic systems in medicinal chemistry and materials science.