Used in molecular recognition and sensor development due to its ability to form stable host-guest complexes with various organic and inorganic species. Commonly employed in the design of ion-selective electrodes and optical sensors, especially for alkali and alkaline earth metals. Serves as a building block in supramolecular chemistry for creating functional materials such as molecular capsules and nanotubes. Applied in separation processes for selective extraction of specific ions or molecules in environmental and industrial samples. Also investigated in drug delivery systems for controlled release through encapsulation of active compounds.