Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its aldehyde and ester functional groups, which allow for further chemical modifications. Its structure supports conjugation with aromatic systems, enhancing photostability and light absorption properties. Commonly applied in the development of sensors for detecting aldehydes or esterases in biochemical assays. Also utilized in organic synthesis for constructing complex naphthalene-based compounds with potential use in pharmaceuticals and agrochemicals.