Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for sulfide-containing compounds due to its reactive thioether and hydroxyl functional groups. Commonly employed in the development of specialty chemicals, including surfactants and lubricant additives, where sulfur functionality enhances performance under extreme conditions. Also utilized in the preparation of certain polymer modifiers to improve flexibility and chemical resistance. Its bifunctional nature allows for cross-linking or chain extension in polymer chemistry.