Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of sulfide-containing compounds. It serves in the preparation of specialty polymers and surfactants due to its bifunctional alcohol groups and central sulfur linkage. Also employed in the formulation of crosslinking agents for resins and coatings, enhancing flexibility and chemical resistance. Its reactivity allows for derivatization in organic synthesis, making it valuable in research and industrial applications requiring thioether bridges.