Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive diketone functionality and hydrophobic naphthyl group. Its structure allows for selective functionalization, making it valuable in the development of bioactive molecules. Commonly employed in research for constructing complex organic frameworks, especially in the design of enzyme inhibitors and receptor ligands. Also utilized in the preparation of specialty polymers and fluorescent materials owing to the aromatic system’s electronic properties.