Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a building block for more complex naphthalene derivatives due to the reactivity of both the bromo and hydroxyl groups. The compound is also employed in the development of fluorescent dyes and optical brighteners, where its aromatic structure contributes to light absorption and emission properties. Additionally, it finds use in research settings for studying substitution reactions and regioselective transformations in polycyclic systems.