(±)-1,1'-Bi(2-naphthol), known as rac-BINOL, is the racemic mixture of the chiral BINOL ligand. It serves primarily as a starting material for resolving into enantiopure forms, which are widely used in asymmetric synthesis to achieve high enantioselectivity in catalytic reactions such as asymmetric oxidation, Diels-Alder, and aldol reactions. Enantiopure BINOL plays a key role in the synthesis of pharmaceuticals and fine chemicals where stereochemical control is essential. Rac-BINOL can also be employed in achiral applications or as an intermediate. Additionally, BINOL derivatives are utilized in materials science for developing chiral sensors and optoelectronic materials due to their stable helical conformation and optical properties.