Synthetic polymers play an indispensable role in modern society, finding applications across various sectors ranging from packaging, textiles, and consumer products to construction, electronics, and industrial machinery. Commodity plastics are cheap to produce, widely available, and versatile to meet diverse application needs. As a result, millions of metric tons of plastics are manufactured annually. However, current approaches for the chemical recycling of postconsumer plastic waste, primarily based on pyrolysis, lag in efficiency compared to their production methods. In recent years, significant research has focused on developing milder, economically viable methods for the chemical recycling of commodity plastics, which involves converting plastic waste back into monomers or transforming it into other valuable chemicals. This Perspective examines both industrial and cutting-edge laboratory-scale methods contributing to recent advancements in the field of chemical recycling.