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The world is rapidly changing, the resources are getting depleted, and the demand for newer technologies and products is increasing. To keep up with these new advances, highly efficient catalytic routes need to be taken to be sustainable and ensure a drawn-out existence of resources for future generations. Catalysis turns out to be a significantly important field of application when it comes to the era of nanoscience, where all devices and technologies are becoming smaller and smaller in size with improved properties. When deeming the usability of a catalyst, it is of paramount importance to have a good understanding of their properties and their synergistic effect on the other reagents in the reaction. Over the last decade, the field of nanocatalysis has grown rapidly, both in homogeneous and heterogeneous catalysis. Given that nanoparticles have a high surface-to-volume ratio when compared to bulk materials, they are appealing as catalysts. Catalysts accelerate and boost thousands of different chemical reactions on a daily basis, forming the foundation of the multibillion-dollar chemical industry worldwide, a pathway leading to green chemistry, and a novel, yet crucial, environmental protection technology. As a result, in this review, the use of nanocatalysts and the application of their special features in the renewable energy, hydrocarbon processing, and fine chemical synthesis sector was explored. A detailed explanation of the working mechanism of these nanocatalysts, starting from how they are synthesized to the effect of modification of their surface, has been put together. We have tried to collect all the current progresses in these three sectors to the best of our abilities. Furthermore, it is anticipated that this paper would be useful for future researchers and academicians wishing to contribute toward this subject of interest.

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