Used primarily as an intermediate in the synthesis of phthalocyanine dyes and pigments, which are widely applied in the coloring of plastics, inks, and coatings. It plays a key role in the production of high-performance materials, including organic semiconductors and photoconductors, utilized in electronic devices and solar cells. Additionally, it is employed in the development of chemical sensors due to its ability to form stable complexes with metal ions, enhancing detection sensitivity. Its derivatives are also explored in biomedical research for potential use in imaging and therapeutic applications.