This chemical is primarily utilized in the field of organic synthesis as a versatile reagent. It is often employed in the preparation of complex molecules, particularly in the formation of thioester bonds, which are crucial in various biochemical processes. Additionally, it serves as a key intermediate in the synthesis of pharmaceuticals, where it aids in the development of active pharmaceutical ingredients (APIs) with specific therapeutic properties. Its role in the production of agrochemicals is also notable, contributing to the creation of pesticides and herbicides that enhance crop protection. Furthermore, this compound is used in material science for the modification of polymers, improving their properties such as flexibility, durability, and resistance to environmental factors. Its application extends to the field of biochemistry, where it is used in the study of enzyme mechanisms and protein interactions, providing insights into metabolic pathways and cellular functions. Overall, this chemical plays a significant role in advancing research and development across multiple scientific disciplines.