Used in organic synthesis as a building block for the preparation of various heterocyclic compounds. It is particularly valuable in the synthesis of indoles, which are important intermediates in pharmaceuticals and agrochemicals. The compound is also employed in the development of dyes and pigments due to its ability to form stable azo compounds. Additionally, it serves as a reagent in chemical research for studying hydrazine derivatives and their reactivity. Its applications extend to material science, where it is used in the preparation of specialized polymers and coatings.