This compound is primarily utilized in the synthesis of various heterocyclic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of active pharmaceutical ingredients (APIs) that target specific biological pathways. Its role in the formation of hydrazone derivatives makes it valuable in creating compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is employed in research settings for the development of novel chemical entities and in the study of reaction mechanisms involving hydrazine derivatives. Its application extends to material science, where it is used in the preparation of specialized polymers and dyes.