Used as an intermediate in the synthesis of fine chemicals and pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and their analogs. Its aromatic structure and ester functionality make it suitable for use in organic transformations such as cross-coupling reactions, hydrolysis, and amidation to form biologically active compounds. Also employed in the development of dyes and fluorescent probes due to the naphthalene core, which contributes to light absorption and emission properties. Its derivatives may find use in materials science for designing organic semiconductors or luminescent materials.