Used primarily in the synthesis of pharmaceuticals and agrochemicals due to its dual thiol and sulfide functional groups, which enable participation in various coupling and ring-forming reactions. It acts as a building block in the preparation of heterocyclic compounds, particularly those with sulfur-containing rings, which are common in bioactive molecules. Its ability to form metal complexes also makes it useful in catalysis and in the development of sensors for heavy metals. Additionally, it serves as an intermediate in the production of specialty polymers where sulfur linkages enhance material flexibility and chemical resistance.