Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of naphthalene-based drug candidates. Its functional groups—bromine, hydroxyl, and ester—allow for selective modifications through cross-coupling reactions, ester hydrolysis, or ether formation. Commonly employed in research settings to build complex polycyclic structures with potential biological activity. Also utilized in the preparation of dyes and fluorescent probes due to the naphthalene backbone’s inherent photophysical properties.