Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly in the synthesis of heterocyclic compounds. It is also employed in the preparation of dyes and pigments, contributing to the vibrant colors in textiles and inks. Additionally, it plays a role in the development of agrochemicals, aiding in the creation of pesticides and herbicides. Its reactivity with carbonyl compounds makes it valuable in the formation of hydrazones, which are useful in analytical chemistry for the detection and quantification of aldehydes and ketones.