Used primarily as a reagent in organic synthesis, this chemical plays a crucial role in the preparation of various hydrazone derivatives, which are valuable intermediates in the production of pharmaceuticals and agrochemicals. It is also utilized in the development of corrosion inhibitors, offering protection to metals in industrial applications. Additionally, it finds use in analytical chemistry as a derivatizing agent to enhance the detection and quantification of specific compounds in complex mixtures. Its stability and reactivity make it a preferred choice in research and industrial processes requiring precise chemical transformations.