My student is currently developing/evaluating a particle board from coconut waste. He was able to produce a promising material however analysis of mode of failure shows it is more attributed to the poor adhesive properties of used glue.
Several years ago I also tried to use coconut waste for particle boards. For the bonding we used Isocyanate, which worked well. But of course this is not cheap and hazardous in use.
If conventional resins are ok, I would use phenol-formaldehyde-resin which should work, but this resin contains formaldehyde.
Lignin glues have the disadvantage that either they might be used together with aldehydes or it should be used a biotechnology approach to activate the lignin by enzymes.
Publications for the approach to use enzymes are linked with this answer.
This is the main challenges for resin preparation specially bio-resins. because in most of time preparing good resin with eco-friendly properties is expensive. but its depend to your aim. of course you can do that. so at the first you should explain how much strength you need for you product and which one is more important for you. it is related to panel application condition. you should find good balance between panel properties and its application. for example in some cases achieving to high strength is not necessary.