Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various heterocyclic compounds, which are essential in pharmaceutical and agrochemical industries. It is particularly valuable in the synthesis of indole derivatives, which have significant biological activities, including anti-inflammatory and anticancer properties. Additionally, it plays a role in the development of dyes and pigments, contributing to the coloration of materials in the textile and printing sectors. Its reactivity with carbonyl compounds also makes it useful in the preparation of hydrazones, which are employed in analytical chemistry for the detection and quantification of aldehydes and ketones.