Used primarily as an analytical reagent for the detection and determination of trace metals in environmental and industrial samples. Exhibits strong chelating properties, particularly effective in complexometric titrations involving copper, lead, and mercury ions. Also employed in the synthesis of heterocyclic compounds for pharmaceutical research, where its thiol and methoxy functional groups contribute to molecular diversity and bioactivity. Additionally, serves as a stabilizer in some polymer systems, helping to prevent oxidative degradation under high-temperature processing conditions.