Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated compounds with enhanced metabolic stability and bioavailability. Its trifluoromethyl group contributes to increased lipophilicity and resistance to oxidative degradation, making it valuable in medicinal chemistry. Also employed in the preparation of liquid crystals and functional materials due to its rigid naphthalene core and polar hydroxyl group, which support structured molecular assembly.