Used primarily as a chain transfer agent in the production of synthetic rubber, such as styrene-butadiene rubber (SBR) and polybutadiene rubber, to control molecular weight and improve processability. It is also employed in the manufacture of adhesives, coatings, and plastics to modify polymer properties and enhance performance. Additionally, it serves as a stabilizing agent in certain chemical reactions and as an intermediate in organic synthesis. Its application extends to the oil and gas industry, where it is used in lubricant additives and as a corrosion inhibitor.