This compound is primarily utilized in the synthesis of various pharmaceutical intermediates and active pharmaceutical ingredients (APIs). It serves as a key building block in the development of agrochemicals, particularly in the creation of herbicides and pesticides, due to its ability to introduce specific functional groups into target molecules. Additionally, it is employed in organic chemistry research for the preparation of hydrazine derivatives, which are valuable in the study of chemical reactions and mechanisms. Its role in the production of dyes and pigments is also notable, as it contributes to the development of colorants with specific properties.