Used primarily as a chemical intermediate in the synthesis of various organic compounds. It is often employed in the production of antioxidants, stabilizers, and additives for polymers and plastics, enhancing their durability and performance. In the field of materials science, it serves as a key component in the development of self-assembled monolayers (SAMs) on metal surfaces, which are crucial for applications in nanotechnology and surface modification. Additionally, it finds use in the pharmaceutical industry as a building block for the synthesis of certain drugs and bioactive molecules. Its thiol group makes it valuable in coordination chemistry, where it acts as a ligand in the formation of metal complexes.