Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of heterocyclic compounds, which are essential in drug development. Additionally, it plays a role in the preparation of dyes and pigments, contributing to the coloration of materials in industrial applications. Its reactivity with carbonyl compounds makes it useful in the formation of hydrazones, which are important in analytical chemistry for the detection and quantification of aldehydes and ketones.