Used primarily in organic synthesis, it serves as a key reagent in the preparation of various hydrazone derivatives. These derivatives are often utilized in the development of pharmaceuticals and agrochemicals. Additionally, it plays a role in analytical chemistry for the detection and quantification of carbonyl compounds, such as aldehydes and ketones, through the formation of hydrazones. Its application extends to research laboratories where it aids in the study of reaction mechanisms and the synthesis of complex organic molecules.