Isooctyl mercaptoacetate is widely used as a stabilizing agent and chain transfer agent in the production of polymers, particularly in the synthesis of acrylic and vinyl polymers. It helps control molecular weight and improve the overall properties of the polymer, such as flexibility and durability. Additionally, it is employed in the manufacture of adhesives and coatings, where it enhances adhesion and resistance to environmental factors. Its role as a plasticizer also contributes to the softening and processing of various plastic materials, making it valuable in industries like automotive, construction, and packaging.