For months, plastics recyclers have been sounding the alarm, and all stakeholders across Europe agree that plastics recycling is in a deep crisis. Effective measures to overcome this crisis have not yet been adopted, leading to further plant closures and raising the question of whether the crisis could turn into a complete collapse of plastics recycling if the infrastructure needed to meet future demand for recyclates disappears. Experts from the plastics industry, recyclers, and political representatives discuss the market reality, the consequences for the circular economy in Germany and Europe, and possible solutions to overcome the crisis.