The necessity for scholarly knowledge mining and management has grown significantly as academic literature and its linkages to authors produce enormously. Information extraction, ontology matching, and accessing academic components with relations have become more critical than ever. Therefore, with the advancement of scientific literature, scholarly knowledge graphs have become critical to various applications where semantics can impart meanings to concepts. The objective of study is to report a literature review regarding knowledge graph construction, refinement and utilization in scholarly domain. Based on scholarly literature, the study presents a complete assessment of current state-of-the-art techniques. We presented an analytical methodology to investigate the existing status of scholarly knowledge graphs (SKG) by structuring scholarly communication. This review paper investigates the field of applying machine learning, rule-based learning, and natural language processing tools and approaches to construct SKG. It further presents the review of knowledge graph utilization and refinement to provide a view of current research efforts. In addition, we offer existing applications and challenges across the board in construction, refinement and utilization collectively. This research will help to identify frontier trends of SKG which will motivate future researchers to carry forward their work.