Used primarily as an intermediate in organic synthesis, particularly in the production of dyes and fluorescent compounds. Its aromatic structure with a methoxy and aldehyde functional group makes it valuable in constructing complex molecules for use in photochemical applications. It is also employed in the development of specialty chemicals such as sensors and optoelectronic materials due to its light-emitting properties when incorporated into larger conjugated systems. Additionally, it serves as a building block in pharmaceutical research for synthesizing bioactive naphthalene derivatives.