Used as an intermediate in the synthesis of porphyrin analogs and tetrapyrrole-like compounds, which have applications in photodynamic therapy and dye-sensitized solar cells. Its aldehyde and carboxylic acid functional groups allow for selective derivatization, enabling conjugation to polymers, biomolecules, or metal-organic frameworks. Commonly employed in research for developing sensors and functional organic materials due to its ability to chelate metals and participate in Schiff base reactions.