Used in the synthesis of fluorescent dyes and optical brighteners due to its ability to form conjugated systems that absorb and emit light in the visible range. Commonly employed as a building block in organic semiconductors and sensors for detecting metal ions or pH changes. Also utilized in the preparation of pharmaceutical intermediates, particularly in the development of anti-inflammatory and antimicrobial agents. Its hydroxyl and aldehyde functional groups allow for easy modification in multi-step organic reactions, making it valuable in research laboratories for creating complex naphthalene derivatives.