This compound is primarily utilized in the field of organic synthesis as a reagent for the formation of thioether bonds, which are crucial in the development of various pharmaceuticals and agrochemicals. It serves as a key intermediate in the synthesis of complex molecules, particularly those involving sulfur-containing functional groups. Additionally, it is employed in the preparation of specialty chemicals that require precise control over sulfur incorporation, such as in the production of certain polymers and materials with specific electronic or mechanical properties. Its role in catalysis and as a stabilizing agent in certain chemical reactions further highlights its versatility in industrial applications.