The population explosion increases stress on the environment, resulting in environmental degradation. WHO released a report on worldwide water consumption; according to this, approximately 1.1 billion people are experiencing an inadequate water supply. Therefore, there is a strong need to develop effective, cost-efficient approaches to eliminate environmental pollution and achieve sustainable energy production. In catalytic reactions, catalysts are important in the synthesis and conversion of useful chemicals as they have more active sites, which increase the rate of catalysis and achieve appropriate activity and selectivity. Nevertheless, issues such as catalyst stability, cost-effectiveness, high surface area, reusability, and low loading must be addressed. In this respect, bimetallic nanomaterials may prove to be a smart solution to the problem because their structure can be programmed by interfacial engineering and is versatile in terms of their structure and specific surface area. These porous substances have been used in heterogeneous catalysis and in environmental cleanup as they are cheap, occur naturally, and through easy pathways to preparation. A limited number of review articles have addressed the life cycle assessment and technoeconomic analysis of bimetallic nanomaterials. In this review, we have thoroughly addressed a detailed cost analysis of the production of nanomaterials and their socioeconomic impact. Also, the review emphasizes the structure-performance relationship, offering new insights for overcoming existing challenges and advancing the field.
Muzammal et al. (Sun,) studied this question.