Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those targeting central nervous system disorders. It is also employed in the development of agrochemicals, where it contributes to the creation of herbicides and pesticides. Additionally, it plays a role in the synthesis of dyes and pigments, enhancing color stability and performance. Its reactivity with carbonyl compounds makes it valuable in the preparation of hydrazones, which are useful in analytical chemistry for the detection and quantification of specific substances.