Used primarily in the synthesis of organic compounds, particularly in the production of fragrances and flavors due to its aromatic properties. It serves as a key intermediate in the manufacture of certain pharmaceuticals, where it contributes to the development of active ingredients. Additionally, it is employed in the creation of specialty chemicals used in agricultural products, enhancing the efficacy of certain formulations. Its thiol group makes it valuable in polymer chemistry, where it can act as a chain transfer agent or modifier in the production of synthetic resins and plastics.