Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) for medications targeting cardiovascular and central nervous system disorders. Its hydrazine moiety makes it useful in the preparation of hydrazone derivatives, which are often employed in drug design and biochemical research. Additionally, it finds application in the synthesis of dyes and pigments, where its reactivity aids in creating complex organic molecules with specific color properties.