This compound is widely utilized in the field of organic synthesis, particularly as a building block for the development of heterocyclic compounds. Its structure makes it a valuable precursor in the synthesis of pharmaceuticals, especially in the creation of drugs with potential antimicrobial, antifungal, and anti-inflammatory properties. Additionally, it is employed in the production of advanced materials, such as polymers and coatings, due to its ability to enhance thermal stability and mechanical strength. Its thiol group also allows for functionalization in chemical reactions, making it useful in the design of sensors and optoelectronic devices. Research continues to explore its potential in medicinal chemistry and material science applications.