This chemical is primarily used in organic synthesis, particularly in the preparation of various heterocyclic compounds. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its hydrazine group allows it to participate in condensation reactions, forming important structures like indoles and pyrazoles, which are often found in active drug molecules. Additionally, it is utilized in research settings for the development of new chemical entities, especially in the study of iodine-containing compounds, which can have unique biological activities. Its applications also extend to the synthesis of dyes and pigments, where it contributes to the formation of complex aromatic systems.