Many research papers have been contributed by several authors for making PET waste recycling economically and ecologically more viable. Recycling of PET waste was started in last two decades. Most of the authors are devoting their time in getting economically viable solution for development of methods based on either mechanical or chemical recycling. Some success has been obtained in development of chemical recycling methods which provides value added products from PET waste. However, different products developed by chemical recycling have not provided economically enough and reliable methods of recycling of PET waste.