Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its brominated naphthalene structure, which enhances light absorption and emission properties. Its hydroxyl and acetate groups allow for easy functionalization in organic reactions, making it valuable in developing sensors and probes for biological imaging, including as a fluorogenic substrate for esterase enzyme assays where hydrolysis of the acetate group produces detectable fluorescent or colorimetric changes. Also employed in the production of specialty polymers where controlled photostability is required.