Plastic waste accrual in the environment has been identified as the topmost significant global issue related to modern civilization. Traditional waste disposal methods, such as open burning, landfilling, and incineration, have increased greenhouse gas emissions in economic and material losses. Unless immediate action is made to curtail demand, prolong product lifespans, enhance waste management, and encourage recyclability, plastic pollution will increase due to an almost threefold increase in plastic use spurred by growing populations and affluence. Plastic production primarily is from crude oil or gas despite more than a fourfold growth from ~6.8 million tonnes in 2000 to ~30 million tonnes in 2019; only ~6% of the world’s total plastics production is made from recycled plastics. The competitiveness and profitability of secondary markets may increase with the establishment of recycled content objectives and advancements in recycling technology. In this review, emerging approaches and the creation of value-added materials from waste plastics such as carbon nanotubes and other carbonaceous nanomaterials production, the environmental impacts of plastic waste, African status concerning plastic waste, the importance of modern techniques in plastic waste management, and the circular economy impact on plastic waste utilization are the high points of this study.