Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) like naproxen. It plays a key role in the development of compounds that exhibit anti-inflammatory and analgesic properties. Additionally, it is utilized in organic research for the preparation of naphthalene derivatives, which are important in various chemical reactions and studies. Its applications extend to material science, where it is employed in the creation of specialized polymers and coatings.