Lignin micro- and nano-particles (LMNPs) synthesized from side-streams of pulp and paper and biorefinery operations have been proposed for the generation of new, high-value materials. As sustainable alternatives to particles of synthetic or mineral origins, LMNPs viability depends on scale-up, manufacturing cost and applications. By using experimental data as primary source of information, along with industrial expertise, we analyze dry and spherical LMNPs obtained by our recently reported aerosol/atomization method. First, a preliminary evaluation towards the commercial production of LMNP from industrial lignin precursors is presented. Following, we evaluate potential LMNP applications from a financial perspective. Mass and energy balances, operating costs and capital investment are estimated and discussed in view of LMNP scalability prospects. The main potential market segments identified (from a financial perspective) include solid foams, emulsion stabilizers, chelating agents, and UV protection. Our technical, cost, financial and market assessment represent the basis for R&D planning and efforts to lower the risk related to expected industrialization efforts in this area. Manufacturing costs were estimated between 870 and 1,170 USD/t; also, minimum selling prices varied from 1,240 and 1,560 USD/t, depending on raw materials used. Sensitivity analysis indicated that manufacturing costs can be as low as 600 USD/t, depending on the process conditions considered. Finally, based on financial assessment, potential applications were identified, such as emulsion stabilizers, UV protection products, chelating agents and polymer nanofillers.