This chemical is primarily utilized in the synthesis of advanced materials, particularly in the development of phthalocyanine dyes and pigments. Its structure serves as a key intermediate in creating compounds with applications in organic electronics, such as organic light-emitting diodes (OLEDs) and photovoltaic cells. Additionally, it is employed in the production of photosensitizers for photodynamic therapy, a treatment method used in targeting and destroying cancer cells. Its ability to form stable, conjugated systems makes it valuable in research and industrial applications focused on optoelectronic devices and medical technologies.