Used primarily as a reducing agent in organic synthesis, it facilitates the conversion of nitro compounds to amines, which are essential intermediates in the production of pharmaceuticals, dyes, and agrochemicals. It is also employed in the preparation of hydroxylamine derivatives, which serve as key building blocks in various chemical reactions. Additionally, it finds application in the stabilization of certain polymers and as a corrosion inhibitor in industrial processes. Its role in the synthesis of fine chemicals and specialty materials makes it valuable in both research and industrial settings.