Formic hydrazide is primarily utilized in organic synthesis as a versatile building block for the preparation of various heterocyclic compounds, such as triazoles and tetrazoles, which are important in pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of herbicides, fungicides, and other biologically active molecules. Additionally, it is employed in the synthesis of hydrazone derivatives, which are used as ligands in coordination chemistry and catalysts in chemical reactions. Its reducing properties also make it useful in certain chemical transformations, particularly in the reduction of metal ions or as a stabilizing agent in polymer chemistry.