Used as an intermediate in organic synthesis, particularly in pharmaceuticals and agrochemicals. It serves as a building block for more complex naphthalene derivatives due to the reactivity of the bromine atom, which can undergo cross-coupling reactions such as Suzuki or Heck reactions. Commonly employed in the development of dyes, fluorescent probes, and specialty materials where aromatic systems are required. Its methoxy group enhances electron density, making it useful in electron-rich aromatic systems for material science applications.