Polymer nanocomposites (PNCs) are an emerging area of research with significant applications in sectors including the biomedical industry, automobile sector, and in the packaging industry. Moreover, while these composites are known to show improvement in physical, thermal, and barrier performance enhancement, the environmental and safety aspects are becoming a major concern. This paper investigates the lifecycle of PNCs analyzing the consequences of other factors such as the manufacturing and disposal process on the environment. It is important to note that PNCs include non-biodegradable polymers alongside nanoparticles (NPs) which exhibit bioaccumulation potential, ecotoxic and human biohazard risks. Emergence, fabrication, and degradation of nanocomposites are bound to release nanoparticles which will lead to air, water, and soil pollution along with occupational hazards. The regulatory bodies are gradually coming up with policies regarding the safety of nanoparticles; however, they have a long way to reach due to the mounting threat of the risk factors as I have previously highlighted, further elucidating on the need of development of guidelines along with policies. There is potential offered by sustainable methods, which include green synthesis techniques and use of biodegradable nanocomposites in solving these issues. It is feasible to pave a path to safer, environmentally friendly nanocomposite technology by providing ample assurance against exposure to humans throughout the design and creation phases via focusing on the safe utilization of PNCs.