This chemical is primarily used in organic synthesis as a versatile intermediate for the preparation of more complex compounds. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific biological pathways. Additionally, it serves as a building block in the creation of organic materials, including dyes, pigments, and polymers, due to its naphthalene core and reactive bromo and hydroxyl functional groups. Researchers also utilize it in the study of chemical reactions and mechanisms, particularly in cross-coupling reactions and other catalytic processes. Its unique structure makes it valuable in the design of novel compounds for various industrial and research applications.