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 heterocyclic compounds, which are essential in developing active pharmaceutical ingredients (APIs) for medications. Additionally, it finds application in the preparation of dyes and pigments, contributing to the coloration of textiles and other materials. Its role in chemical research is also notable, as it aids in the study of hydrazine derivatives and their reactivity patterns.