This chemical is primarily used in organic synthesis as a reagent for the preparation of cyclopentene derivatives. It serves as a key intermediate in the synthesis of various organic compounds, particularly in the formation of cyclopentene rings through hydrazone decomposition. Additionally, it is employed in the development of pharmaceuticals and agrochemicals, where cyclopentene structures are essential. Its role in facilitating specific chemical reactions makes it valuable in research and industrial applications for creating complex molecular architectures.