Used as an intermediate in the synthesis of organic semiconductors and fluorescent dyes due to its extended aromatic structure and functional groups that allow for further chemical modifications. Its naphthalene core provides a rigid, planar framework beneficial for π-conjugation, enhancing electronic properties in materials for optoelectronic devices such as OLEDs. Also employed in pharmaceutical research as a building block for complex molecules, particularly in the development of enzyme inhibitors where the ester and ether functionalities enable specific binding interactions. Solubility in common organic solvents makes it suitable for solution-phase reactions and purification processes in multi-step syntheses.