Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of hydrazine-based drugs. It serves in the development of antitubercular agents and antidepressants due to its ability to form bioactive heterocyclic compounds. Also employed in the production of agrochemicals and specialty polymers where hydrazide or hydrazone linkages are required. Its benzyl-protected hydrazine structure makes it valuable in peptide coupling and protection strategies in organic synthesis.