Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of heterocyclic compounds. Its thiol and ester functionalities allow for selective reactions in organic synthesis, making it valuable in creating bioactive molecules. Commonly employed in the preparation of benzothiazole derivatives, which exhibit antimicrobial, antifungal, and anticancer activities. Also utilized in material science for modifying surfaces and in the design of specialty chemicals requiring reactive sulfur groups.