Used primarily in organic synthesis, it serves as a key intermediate for creating pyrene-based derivatives. These derivatives are often employed in the development of fluorescent probes and sensors due to pyrene's strong luminescent properties. It is also utilized in the preparation of polymers and materials with specific optical characteristics, making it valuable in research and industrial applications related to optoelectronics and photochemistry. Additionally, its reactivity allows for functionalization in the study of molecular interactions and labeling in biochemical assays.