Used as a key intermediate in organic synthesis, particularly in the preparation of anthracene derivatives. It plays a significant role in the development of fluorescent dyes and pigments due to its ability to modify light absorption and emission properties. This compound is also utilized in the creation of organic semiconductors and optoelectronic materials, contributing to advancements in solar cells and light-emitting diodes (LEDs). Additionally, it serves as a building block in pharmaceutical research for synthesizing compounds with potential biological activity. Its unique structure allows for further functionalization, making it valuable in various chemical and industrial applications.