Used as an analytical reagent for the detection and spectrophotometric determination of metal ions such as copper, iron, and cobalt due to its ability to form colored complexes. It serves as a derivatizing agent in analytical chemistry, enhancing the detectability of carbonyl compounds in gas chromatography and mass spectrometry. Also employed in the synthesis of dyes and pharmaceuticals as an intermediate. Shows antioxidant properties and has been studied for potential use in stabilizers for polymers and lubricants. Additionally, it acts as a radical scavenger in chemical and biological systems, making it useful in research related to oxidative stress.