Thioacetic acid is primarily used in organic synthesis as a versatile reagent. It is commonly employed in the preparation of thioesters, which are valuable intermediates in the production of pharmaceuticals, agrochemicals, and other organic compounds. The compound is also utilized in the synthesis of peptides and proteins, where it acts as a protective group for thiols, ensuring selective reactions during complex molecular constructions. Additionally, thioacetic acid finds application in the modification of polymers and resins, enhancing their properties for specific industrial uses. Its ability to introduce sulfur-containing functional groups makes it a crucial component in the development of various specialty chemicals.