Despite of the many similarities between corroles and porphyrins, the chemistry of the former remained undeveloped for decades because of severe synthetic obstacles. The recent discoveries of facile methodologies for the synthesis of triarylcorroles and the corresponding metal complexes allowed for their utilization in various fields. This survey reveals many examples where corroles were used as the key components in catalysis, sensing of gaseous molecules and medicine-oriented research. The focus in all these cases was on the special features of corroles: stabilization of high valent transition metal ions, unique photophysical properties, large NH acidity, facile synthetic manipulation and distinct catalytic properties. The latter aspect includes several examples of reactions that are not catalyzed by any non-corrole metal complex, such as the iron-based aziridination by Chloramine-T, the clean disproportionation of peroxynitrite, and the very facile N–H activation of amines.