Used as a key intermediate in the synthesis of agricultural chemicals, particularly in the production of certain herbicides and fungicides. Its reactive dithiol structure allows for the formation of chelating agents that can bind metal ions, making it useful in coordination chemistry for catalyst development. Also employed in the preparation of specialty organic compounds where selective chlorination and sulfur functionality are required. Its derivatives have shown utility in polymer stabilization and in the development of sensing materials for heavy metals due to their selective binding properties.