Used primarily in organic synthesis, this compound serves as a key reagent in the preparation of various heterocyclic compounds. It is particularly valuable in the synthesis of indoles, which are important structures in pharmaceuticals and agrochemicals. Additionally, it finds application in the development of dyes and pigments due to its ability to form stable intermediates. In research, it is utilized to study hydrazine derivatives and their reactivity, aiding in the discovery of new chemical pathways and materials.