Used primarily in organic synthesis, this compound serves as a key reagent for the preparation of hydrazones and other hydrazine derivatives. It is particularly valuable in the synthesis of heterocyclic compounds, which are essential in pharmaceutical research and development. Additionally, it is employed in the production of dyes and pigments, aiding in the creation of colorants with specific properties. Its role in analytical chemistry includes being a derivatization agent for the identification and quantification of carbonyl compounds in various samples.