The conversion of CO2 into polymers such as poly(propylene carbonate) (PPC) can contribute to the reduction of dependence on fossil fuel resourced polymers. PPC is a polymer synthesized from the catalyzed copolymerization between CO2 and propylene oxide. The global demand for renewable and biodegradable polymers coupled with the recent success in catalysis for the copolymerization of CO2 with epoxides has paved the way for an increased interest and growth in PPC polymers. On the contrary, the extensive utilization of PPC in many applications is still challenging due to its poor thermal stability, mechanical strength, and dimensional stability. Thus, many research efforts currently focus on improving these limitations. On the other hand, polymer processing and application development efforts have continued to utilize the existing PPC. This article presents a comprehensive review of PPC polymer as a matrix component of polymer composites and nanocomposites. Progress in current research on PPC‐based material applications, including industrial packaging, electromagnetic shielding, energy storage, and biomedical applications are included. A critical review of the biodegradability, compostability, and overall sustainability of PPC is also conducted. Finally, challenges that limit the extensive use of such materials, and future research and development directions are highlighted.