Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of compounds with biological activity. Its bromo, hydroxy, and ester functional groups allow for further chemical modifications, making it valuable in organic synthesis. Commonly employed in the preparation of dyes and fluorescent agents due to the naphthalene backbone, which contributes to light absorption and emission properties. Also utilized in research settings for developing novel ester-based prodrugs or photoactive molecules.