Polymers, defined as non-metallic materials, which can be molded to any shape and size by application of heat and pressure, have become substance of immense importance. Now a day’s, the polymers are widely used in the construction, transportation, communication, electrical and textile industries and are highly useful in the aircraft, aerospace, nuclear and space technology as well as medical applications. With the growing demand for lightweight, high performance materials coupled with escalating costs of energy and petro-chemicals feed stocks, the last few years have seen a tremendous surge of interest in development of polymer blends. The combinations of low cost and light weight with superior mechanical and electrical properties are the main reason for increasing the research interest in the field of polymeric blends. Authors had made an effort to study the ternary blend system on the basis of structure-property relationship and to focus upon their miscibility, compatibility, crystallization, plasticization, morphology, mechanical strength, charge storage and electrical behavior.