This chemical is primarily used in the field of organic synthesis and material science. It serves as a key intermediate in the production of advanced polymers and resins, which are essential in manufacturing high-performance coatings and adhesives. Additionally, it finds application in the development of photoactive materials, particularly in the creation of photoresists for semiconductor fabrication. Its unique structure also makes it valuable in research related to sulfhydryl chemistry and as a building block for synthesizing complex organic molecules with potential pharmaceutical applications.