Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its thiol group allows for the formation of disulfide bonds, making it valuable in the development of peptide-based drugs and other bioactive molecules. Additionally, it finds application in the preparation of specialty polymers and resins, where it acts as a cross-linking agent or modifier to enhance material properties. In research, it is utilized for studying thiol-disulfide exchange reactions, which are critical in understanding redox processes in biological systems. Its role in synthesizing sulfur-containing compounds also extends to the creation of ligands for metal catalysis in industrial chemical processes.