Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its oxime functional group is valuable in forming heterocyclic compounds, which are essential in drug development. It is also employed in the synthesis of corrosion inhibitors, protecting metals from degradation in industrial applications. Additionally, it acts as a chelating agent in analytical chemistry for the detection and separation of specific metal ions. Its versatility makes it a useful component in research and industrial processes.