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 development of heterocyclic compounds, which are essential in drug discovery for their biological activity. Additionally, it plays a role in the synthesis of dyes and pigments, contributing to the coloration of materials in industrial applications. Its reactivity with carbonyl compounds makes it useful in the preparation of hydrazones, which are further utilized in analytical chemistry and material science.