Used primarily as an intermediate in the synthesis of organophosphorus compounds, particularly in the production of pesticides and flame retardants. Its sulfur-containing structure makes it valuable in creating thiophosphate esters, which exhibit biological activity against insects and mites. It also serves in the development of lubricant additives and stabilizers for polymers due to its ability to enhance thermal and oxidative stability. Due to its reactivity, it is handled under controlled conditions in industrial and research settings.