Used primarily as a reagent in organic synthesis, this compound is valuable for forming hydrazone derivatives, which are intermediates in the production of various pharmaceuticals and agrochemicals. It plays a role in the synthesis of heterocyclic compounds, which are essential in drug development. Additionally, it is utilized in research for studying reaction mechanisms involving hydrazones, contributing to advancements in chemical and medicinal chemistry. Its application extends to the development of dyes and pigments, where it aids in creating specific color properties.