This compound is widely used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and biologically active molecules. Its structure allows it to act as a key component in the creation of compounds with potential therapeutic properties, such as antimicrobial or anti-inflammatory agents. Additionally, it is employed in the production of specialty chemicals, including dyes and pigments, where its ability to form stable complexes with metals is advantageous. In material science, it is explored for its potential in synthesizing advanced polymers and coatings, offering enhanced thermal stability and durability. The thiol group in its structure also makes it useful for surface modification and functionalization in nanotechnology applications, enabling the development of innovative materials with tailored properties.