Furfural, which is directly derived from the hemicellulosic parts of lignocellulosic biomass, is considered as one of the most promising platform chemicals to manufacture commodity chemical products such as polymers and their monomers. Its production has already been commercialized. In this review, potentially relevant methods for producing important chemicals from furfural, which are used as monomers for different polymers, and for the polymerization of furfural and its derivatives (e.g., furfuryl alcohol), have been discussed. First, the production of furfural from different lignocellulosic biomasses is presented. Next, the synthesis of various monomers and their highest available yields from furfural are discussed. The polymers that can be directly produced from furfural and its derivatives are explored. Finally, the challenges of producing furfural-based products have been highlighted.