Used as an intermediate in organic synthesis, particularly in the preparation of flavor and fragrance compounds. Its thiol group contributes to strong odor characteristics, making it valuable in creating sulfur-containing aroma chemicals. Commonly employed in the development of meat-like and savory notes in food flavorings. Also utilized in the synthesis of certain pharmaceuticals where a protected thiol functionality is required. Its hydroxyl group allows for further derivatization, enabling its use in building more complex molecules in fine chemical manufacturing.