Used extensively in the field of material science, this chemical serves as a building block for constructing metal-organic frameworks (MOFs) due to its ability to coordinate with metal ions, creating porous structures useful for gas storage and separation. In the realm of photodynamic therapy, it acts as a photosensitizer, where upon light activation, it produces reactive oxygen species that can kill cancer cells. Additionally, its strong absorption properties make it valuable in the development of organic solar cells, enhancing light harvesting efficiency. In analytical chemistry, it is employed as a sensor material for detecting various analytes through changes in its optical properties.