Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) like naproxen. Its structure allows for selective functionalization, making it valuable in building complex organic molecules. Also employed in the development of liquid crystals and organic semiconductors due to its rigid aromatic framework and ability to undergo cross-coupling reactions. Commonly utilized in research settings for constructing naphthalene-based derivatives with tailored electronic or biological properties.