Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a building block for heterocyclic compounds due to its reactive ester groups and sulfur-containing core. Commonly employed in the development of UV absorbers and light stabilizers for polymers, enhancing material durability against environmental degradation. Also utilized in the synthesis of plasticizers to improve flexibility and workability of plastics. Its bifunctional nature allows for cross-linking reactions, making it valuable in specialty chemical formulations.