This chemical is primarily used in advanced materials and research applications due to its unique porphyrin structure. It serves as a key component in the development of organic semiconductors, which are essential for creating flexible electronics and solar cells. Its ability to absorb light efficiently makes it suitable for use in photodynamic therapy, where it helps target and destroy cancer cells when activated by specific wavelengths of light. Additionally, it is employed in catalysis, particularly in reactions involving oxidation or reduction, due to its stable and versatile framework. Researchers also utilize it in the study of molecular recognition and sensor technologies, where its structure allows for precise interactions with other molecules.