This chemical is primarily used as a reducing agent in various chemical reactions, particularly in organic synthesis. It is effective in reducing nitro compounds to amines, which is a crucial step in the production of dyes, pharmaceuticals, and agrochemicals. Additionally, it is employed in the synthesis of polymers and resins, where it helps in controlling the polymerization process. Its reducing properties also make it useful in the preparation of certain metal nanoparticles, which have applications in catalysis and material science. In the field of electronics, it is utilized in the development of conductive polymers and coatings. Overall, its versatility as a reducing agent makes it valuable in a wide range of industrial and research applications.