Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its reactive aldehyde and carboxylic acid functional groups. Its structure allows for easy modification in organic reactions, making it valuable in developing dyes for textiles, paper, and plastics. Also employed in the preparation of naphthalene-based polymers and photoactive materials. Additionally, it finds use in research for developing sensors and luminescent compounds owing to its inherent fluorescence properties.