In modern world, plastic is one of the primary manmade materials which is indispensable because of its versatile properties and applicability. Plastic is very much ingrained in our life as it finds use in every walk of our life from rockets to packaging. High life expectancy and linear usage of plastic ensured that our environment is filled with plastic wastes. Ever increasing plastic wastes produced micro and nano plastics which has invaded every possible ecosystem creating havoc. Plastic pollution is a disaster not only for the ecology but also for the economy as a valuable resource are being wasted every day. Mankind is waking up to the reality of plastic pollution which is forcing the governments to introduce policies to encourage sustainable usage of plastics. This paper comprehensively explores the ways of reusing and recycling plastics without the loss of its value. The study analyses the traditional and state of art methods of plastic waste conversions into products like fuels, valued added chemicals, carbonaceous materials, modified cements, wood products and asphalt materials. Scrutinises the advantages and energetics of each process with a special. Significant challenges, opportunities and the efficient usage of resources to create a circular economy summarises the discussion.