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A class of heterocyclic compounds with at least one sulfur atom in a five-membered ring is called thiolanes, or thiacycloalkanes. These compounds are useful in many domains, such as organic chemistry, materials research, and pharmaceuticals, due to their varied properties. For researchers and synthetic chemists alike, thiolanes provide a wealth of opportunities due to their distinct structural characteristics. There are various methods for synthesizing thiiolanes, however cyclization of thioalkanes is a typical one. A thiolane ring, for example, can be produced by the interaction of a thioalcohol with an epoxide via nucleophilic ring-opening routes or ring-closing metathesis. Furthermore, thionation of appropriate cyclic ketones or ring-closure of α-haloketones with thiols can be used to access thiones. The sulfur atom in their ring gives thiolanes their fascinating chemical reactivity. Thiolanes are vulnerable to both nucleophilic and electrophilic assaults because of the lone pairs on the sulfur atom, which allows for a variety of functionalization processes. Acyclic thioethers are produced by ring-opening processes, substitution reactions at the sulfur atom to add different functional groups, and oxidation of the sulfur atom to sulfoxides or sulfones. Because thiolanes can alter biological activity, they are preferred scaffolds in medicinal chemistry drug discovery. Numerous substances containing thiolanes have demonstrated encouraging pharmacological qualities, such as antiviral, anticancer, and antibacterial effects. Improved target selectivity, bioavailability, and metabolic stability can be obtained by adding thiolane rings to therapeutic candidates. Additionally, thiolanes are useful in materials science for the creation of materials with special optical or electrical properties, as well as polymers containing sulfur. Researchers can tailor the mechanical, thermal, and chemical properties of materials for use in sensors, coatings, and optoelectronic devices by adding thiolane moieties as pendant groups or into polymer backbones. To sum up, thiolanes are an intriguing class of heterocyclic molecules with a variety of synthesis pathways and adaptable reactivity. Their importance cuts across several fields, such as pharmaceutical chemistry, materials science, and organic synthesis, and they are therefore useful building blocks in the search for new molecules and materials with specific qualities and applications.