Used as a surface modifier in the synthesis of nanoparticles, particularly gold and silver nanoparticles, to stabilize and control their size and shape. It is also employed in self-assembled monolayers (SAMs) for surface coatings, which are applied in sensors, electronics, and corrosion protection. Additionally, it serves as a lubricant additive to enhance the performance and longevity of mechanical systems. In research, it is utilized to study thiol-based interactions and surface chemistry.