Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of naphthoquinone-based compounds with potential biological activity. Its structure allows for further functionalization in organic reactions, making it valuable in medicinal chemistry research. Also employed in the preparation of fluorescent dyes and optical brighteners due to the naphthalene core's inherent photophysical properties. Commonly utilized in academic and industrial labs for building complex polycyclic molecules through ester hydrolysis, ether cleavage, or cross-coupling reactions.