This chemical is primarily used in organic synthesis as a building block for creating more complex molecules. It is often employed in the preparation of conjugated systems due to its ability to participate in various coupling reactions, such as Suzuki or Heck reactions. Its structure, featuring a naphthalene ring and an acrylic acid moiety, makes it useful in the development of fluorescent dyes, organic semiconductors, and photoresponsive materials. Additionally, it serves as an intermediate in the synthesis of pharmaceuticals, particularly those targeting anti-inflammatory or anticancer properties. Its conjugated system also lends itself to applications in material science, such as in the creation of polymers with specific optical or electronic properties.