Graphene and carbon nanotubes (CNTs) have significant uses in their electrical, thermal, and mechanical properties for various applications, such as electronics, energy storage, composites, and biomedicine. The recovery of graphene and carbon nanotubes plays a significant role in the circular economy and the processing of materials. Graphene recovery with electrochemical techniques has become a sustainable and effective method. The direct reuse in manufacturing processes enables the recovery of nanomaterials to be reintegrated into the production cycles for applications like conductive inks, coatings, and composite materials. Surface modification, annealing, and doping are all types of functional regeneration that preserve the structural and electronic properties of the nanomaterials. Effective end-of-life management strategies are critical to reducing the environmental and health hazards associated with nanomaterial disposal. Toxic by-products that are formed and accumulate in the environment must be carefully regulated to avoid algal blooms and increases in animal populations. Advanced separation technologies are critical to extracting mixed waste streams from nanomaterials for sustainable reintegration in industrial applications. End-of-life management strategies of the circular economy for graphene and carbon nanotubes emphasise recycling, reusing, reducing waste and improving sustainability. Carbon nanofibers in the recycling methods can be developed to recover and recycle this material energy-efficiently. Graphene is a carbon material that can be made from solid waste and generated into a valuable product, which is a high-value application used for carbon capture.