Used as an intermediate in the synthesis of naphthoquinone-based dyes and pigments, particularly in the production of high-performance organic semiconductors and photoresists. It plays a role in the development of specialty polymers with enhanced thermal and oxidative stability. Also employed in research for photochromic materials due to its ability to undergo reversible light-induced transformations. Its hydroxyl and acetyl functional groups allow for derivatization in pharmaceutical and agrochemical applications, especially in the design of bioactive molecules with antioxidant properties.