The demand for petroleum dependent chemicals and materials has been increasing despite the dwindling of their fossil resources. As the dead-end of petroleum based industry has started to appear, today's modern society has to implement alternative energy and valuable chemical resources immediately. Owing to the importance of lignocellulosic biomass being the most abundant and bio-renewable biomass on earth, this critical review provides insights into the potential of lignocellulosic biomass as an alternative platform to fossil resources. In this context, over 200 value-added compounds, which can be derived from lignocellulosic biomass by various treatment methods, are presented with their references. Lignocellulosic biomass based polymers and their commercial importance are also reported mainly in the frame of these compounds. This review article aims to draw the map of lignocellulosic biomass derived chemicals and their synthetic polymers, and to reveal the scope of this map in today's modern chemical and polymer industry.