Used as a stabilizer in the production of polymers, particularly in the synthesis of polyvinyl chloride (PVC), to enhance thermal stability and prevent degradation. It acts as a chain transfer agent in radical polymerization processes, helping to control molecular weight and improve the properties of the final polymer. In the pharmaceutical industry, it serves as a key intermediate in the synthesis of various drugs, including those used for treating cardiovascular diseases. Additionally, it is employed in the preparation of self-assembled monolayers (SAMs) on gold surfaces, which are crucial in nanotechnology and biosensor applications. Its thiol group makes it valuable in modifying surfaces for improved adhesion and biocompatibility.