Nanotechnology has attained the valuable significant attention throughout time because to its compelling and pioneering uses in the forthcoming industrial age, particularly in relation to nanomaterials. Nanomaterials find applications in several areas, including agriculture, biomedicine, electronics, energy, transportation, communications, cosmetics, coatings, materials, and mechanical engineering. Numerous techniques have been used to fabricate nanoparticles (NPs) with precise control over their form, size, dimensions, and structure. There may be exist two primary methodologies for the synthesis of nanoparticles, namely the top-down and bottom-up techniques. These nanoparticles include core/shell (CS) nanoparticles, gold nanoparticles (Au-NPs), nickel nanoparticles (Ni-NPs), platinum nanoparticles (Pt-NPs), copper oxide nanoparticles (CuO-NPs), zinc oxide nanoparticles (ZnO-NPs), palladium nanoparticles (Pd-NPs), and silicon nanoparticles (Si). The physicochemical qualities may vary depending on the size and form of the object. There are many categories of nanocomposites, including ceramic matrix nanocomposites, metal matrix nanocomposites, and polymer matrix nanocomposites. Semiconductor materials have characteristics that lie between those of metals and nonmetals, making them very versatile and widely used in numerous applications, as documented in the literature. Semiconductor nanoparticles have broad bandgaps, resulting in notable modifications to their characteristics via bandgap tuning. Carbon nanotubes (CNTs) and graphene are widely recognized as prominent constituents within the carbon-based nanomaterials category. There are many aspects of the functional nanomaterial needed to explore their chemical and physical potentials for the use in the sub valuable industries areas.