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 synthesis of hydrazone derivatives, which are essential in the development of drugs targeting central nervous system disorders. Additionally, it plays a role in the preparation of dyes and pigments, contributing to the coloration of textiles and other materials. Its reactivity with carbonyl compounds makes it useful in analytical chemistry for the detection and quantification of aldehydes and ketones.