Used as an intermediate in the synthesis of functional organic materials, particularly in the production of liquid crystal compounds and pharmaceuticals. Its structure allows for selective functionalization, making it valuable in creating complex naphthalene-based derivatives. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build biaryl systems for advanced materials. Also utilized in the development of fluorescent dyes and optoelectronic materials due to the extended aromatic framework.