Used as a catalyst in oxidation reactions, particularly in the selective oxidation of hydrocarbons. It mimics the active site of metalloenzymes, making it effective in biomimetic catalysis. Also employed in studies of electron transfer processes due to its stable redox properties. Applied in electrochemical sensors and as a model compound in porphyrin-based material research. Shows potential in photodynamic therapy and light-harvesting systems because of its strong absorption in the visible region.