2-Mercaptophenol is primarily used in the synthesis of various organic compounds, particularly in the production of pharmaceuticals and agrochemicals. Its thiol group makes it a valuable intermediate in the creation of heterocyclic compounds, which are often key components in drug development. Additionally, it is utilized in the preparation of ligands for metal complexes, which are important in catalysis and material science. In the field of polymer chemistry, 2-Mercaptophenol can act as a chain transfer agent, helping to control the molecular weight of polymers during polymerization processes. Its unique properties also make it useful in the development of specialty chemicals and in research applications where precise chemical modifications are required.