This chemical is primarily used in organic synthesis and materials science. It serves as a key intermediate in the development of fluorescent dyes and pigments due to its naphthalene and pyrazole moieties, which contribute to its photophysical properties. It is also employed in the synthesis of heterocyclic compounds, which are valuable in pharmaceutical research for creating potential drug candidates. Additionally, it finds applications in the production of organic electronic materials, such as organic light-emitting diodes (OLEDs), owing to its ability to enhance charge transport and luminescence efficiency.