The purpose of this study is to review existing recycling technologies, standards and market situation for plastics recycling. The principal results show that mechanical recycling is the most well-developed recycling approach in terms of industrial feasibility. This approach enables development of plastic recyclates of various quality levels. At the same time, transfer of many research findings into practice is hindered due to the global plastic material flow, strongly differing regional waste management systems and lack of international recycling standards. This review shows that the development of a Circular Economy Model for plastics products requires close cooperation of scientists with standardization committees and industry.