The economic viability of guayule as an industrial crop for natural rubber production depends largely on the potential valorization of these co-products. According to the studies carried out on the subject, there is a broad consensus on the added value of the resin and bagasse in different fields of application. The process of extracting natural rubber from guayule produces mainly bagasse (±80% of the total dry mass) and resin (±10% of the total dry mass). According to guayule research, high-value co-products significantly improve the economic viability of guayule as an industrial crop and offset a substantial portion of the cultivation and processing costs. According to studies, resin remains the most fluctuating value; reducing this uncertainty, through future research on resin applications, it is essential to the success of guayule as a natural rubber raw material. It finds applications in different industrial fields, such as coatings, varnishes, paints, treated wood, biocontrol agents and controlled-release formulations. Bagasse is composed primarily of cellulose, hemicellulose, lignin and resin, and has a high calorific value, making bagasse a suitable fuel for on-site combustion to produce electricity and thermal energy. Bagasse combustion in this scenario is less complex than the logistics of biofuel production. Resin-containing guayule bagasse has been combined with a plastic binder to make high-density composite panels resistant to termite degradation. In addition, the resinous material can be solvent-extracted and used to impregnate wood with raw resin extract so that the wood is protected from destructive organisms. Guayule bagasse containing resin can modify the soil nature and improve the growth of vegetables compared to de-resinated bagasse.