Used primarily as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a protecting group for hydrazine due to its ability to form stable derivatives that can be selectively deprotected. Commonly employed in the synthesis of heterocyclic compounds, including pyrazoles and triazoles, which are key scaffolds in drug development. Also utilized in peptide chemistry and as a reagent in the preparation of hydrazides for biochemical labeling and conjugation reactions.