Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of hydrazone derivatives, which are important in the development of drugs targeting central nervous system disorders and anti-inflammatory agents. Additionally, it plays a role in the preparation of dyes and pigments due to its ability to form stable azo compounds. Its application extends to research laboratories, where it is utilized in the study of reaction mechanisms and the development of novel chemical entities.