Lignin Modifications, Applications, and Possible Market Prices

Lignin is the second most abundant biopolymer in the world. Due to its complex structure, lignin can be considered a valuable source of energy and different chemicals. In addition, using different reactive sites on lignin, it is possible to prepare different value-added products, such as resins, polyurethanes, and many more. Different functional groups are presented on the lignin macromolecule and can be modified via different pathways. Hydroxyl groups are the most promising reactive sites for lignin modifications. Both modified and unmodified lignins could be used for preparing different biomaterials. This paper shows several possible applications of lignin. The main goal of this publication is to show the possible valorization of lignin in different value-added products throughout the actual market prices of non-biobased materials. This review proves that lignin has unquestionable advantages in material technology and can replace different substances which will lead to a higher potential market value of lignins and could create new bio-based materials compared with the actual prices of commercially available materials. Nowadays, it is easier to use lignin as an energy source even though a lot of lignin modifications and conversion processes are still under development and need more time to become more relevant for industrial applications. Information in the presented paper should reveal to the reader the importance and economic benefits of using lignin as a value-added compound in different applications.