Used as a key intermediate in the synthesis of porphyrin analogs and other tetrapyrrole compounds, which are essential in the development of photosensitizers for photodynamic therapy (PDT) in cancer treatment. Also employed in the preparation of functional dyes and pigments due to its stable pyrrole core and ester groups that allow further chemical modifications. Its sterically hindered structure makes it suitable for controlling regioselectivity in multi-step organic syntheses, particularly in pharmaceutical and agrochemical research.