Abstract
The transition toward circular and low-carbon manufacturing requires strategies that move beyond the passive management of carbon emissions and enable their productive utilization. With this notion, carbon dioxide (CO
2
) is increasingly being recognized as an abundant C
1
feedstock for the sustainable synthesis of chemicals, fuels, polymers, and functional materials. Although conventional approaches such as carbon capture and storage (CCS), afforestation, and geological sequestration mitigate CO
2
emissions, they often generate limited economic value and do not exploit CO
2
as a renewable carbon resource. In contrast, carbon capture and utilization (CCU) has emerged as a sustainable alternative by transforming captured CO
2
into value-added chemicals, fuels and specialty products such as methane, methanol, polymers and other materials thereby promoting carbon circularity while reducing dependence on fossil-derived resources. While CCU has traditionally focused on fuels and bulk chemicals, emerging advances increasingly position CO
2
as a versatile carbon synthon for next-generation manufacturing, extending beyond conventional valorization routes. This review provides a comprehensive overview of recent advances in CO
2
conversion technologies with particular emphasis on expanding the accessible chemical space from CO
2
toward specialty chemicals, non-natural products, advanced materials, and biomedical applications. Recent state-of-the-art developments in catalytic, electrochemical, photochemical and biological transformation strategies are examined to illustrate how improved carbon selectivity, enhanced product complexity, and programmable carbon fixation are reshaping sustainable carbon utilization. Particular emphasis is placed on emerging biological interventions that expand carbon utilization beyond native metabolic constraints and enable access to structurally diverse and functionally tailored products. Beyond advances in conversion technologies, this review evaluates the factors governing industrial translation, including process integration, scalability, commercialization challenges, and techno-economic feasibility. Emerging opportunities involving functional materials, specialty products, and biomedical applications are further discussed to demonstrate the evolution of CO
2
from an environmental burden toward a renewable feedstock for high-value manufacturing. Finally, future perspectives are presented to outline the technological and translational developments required for establishing scalable and economically viable and net zero carbon technologies.