This chemical is primarily utilized in the synthesis of organic compounds, particularly in the production of dyes and pigments. Its structure makes it a valuable intermediate in creating naphthalene-based dyes, which are widely used in the textile industry for coloring fabrics. Additionally, it serves as a precursor in the development of fluorescent compounds, which find applications in biological staining and imaging techniques. In the pharmaceutical sector, it is employed in the synthesis of certain active pharmaceutical ingredients (APIs) due to its reactive amino and ester functional groups. Its versatility also extends to material science, where it is used in the preparation of organic electronic materials, contributing to the advancement of optoelectronic devices.