Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its aldehyde functional group allows for condensation and nucleophilic addition reactions, making it valuable in constructing complex aromatic systems. Commonly employed in the development of dyes and fluorescent compounds due to the naphthalene backbone's inherent photophysical properties. Also utilized in research settings for synthesizing biologically active molecules, including potential antitumor and antimicrobial agents.