Used primarily as a reducing agent in organic synthesis, it facilitates the conversion of nitro compounds to hydroxylamines or amines, which are key intermediates in pharmaceuticals and agrochemicals. It also serves as a stabilizer in polymer production, preventing unwanted oxidation during processing. In analytical chemistry, it is employed to modify or protect functional groups in complex molecules, aiding in the identification and quantification of substances. Additionally, it finds application in the preparation of specialty chemicals, where its reactivity with carbonyl compounds is exploited to synthesize various industrial products.