Primarily utilized in organic synthesis, this compound serves as a versatile intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of active ingredients for medications targeting neurological disorders, due to its ability to interact with specific biological pathways. Additionally, it is employed in the synthesis of complex organic molecules, where its naphthalene core facilitates the creation of compounds with potential anti-inflammatory and antimicrobial properties. In the agrochemical sector, it contributes to the formulation of pesticides and herbicides, enhancing their efficacy and stability. Its role in facilitating innovative chemical reactions also makes it a key component in academic and industrial research, driving advancements in synthetic chemistry.