Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its thiol group makes it valuable for creating sulfur-containing compounds, which are often utilized in drug development. Additionally, it is employed in the synthesis of specialty chemicals, including ligands for metal catalysis. In research, it is used to modify surfaces or molecules by introducing thiol functionalities, which can enhance binding properties or alter material characteristics. Its application in polymer chemistry is also notable, where it aids in the development of functionalized polymers with specific properties.