This compound is primarily utilized in the synthesis of various organic molecules, particularly in the development of pharmaceutical agents. It serves as a key intermediate in the production of hydrazide derivatives, which are often explored for their potential therapeutic properties. Researchers investigate its role in creating compounds with anti-inflammatory, antimicrobial, and anticancer activities. Additionally, it is used in chemical research to study reaction mechanisms and develop new synthetic pathways for complex organic structures. Its applications extend to material science, where it contributes to the design of novel polymers and coatings with specific functional properties.