Plastics, particularly synthetic organic polymers, have become indispensable in modern life, yet their large-scale production has led to significant environmental challenges due to persistent waste. Traditional mechanical recycling methods have proven insufficient in addressing these issues. This review explores recent advancements in polymer recycling, focusing on chemical and biological processes, such as pyrolysis, depolymerization, and enzyme-based degradation, which offer more efficient and sustainable alternatives. Within the framework of a circular economy, the review also examines strategies like closed-loop and circular plastic economies. These developments represent critical steps toward creating more sustainable plastic recycling practices. The final chapter includes the Quarterly Report 2024 on recycling plastics, providing an up-to-date overview of the current state of plastic recycling and its recent trends.