This chemical is primarily used in the synthesis of complex organic molecules, particularly in the field of polymer chemistry. It serves as a versatile building block for creating functionalized polymers with specific properties, such as improved solubility or enhanced reactivity. The compound is also employed in the development of advanced materials, including coatings and adhesives, where its unique structure contributes to better performance and durability. Additionally, it finds application in the pharmaceutical industry as an intermediate in the production of drug candidates, enabling the introduction of thiol groups into molecular frameworks for targeted therapeutic effects. Its role in bioconjugation chemistry is notable, where it facilitates the attachment of biomolecules to various substrates for diagnostic and research purposes.