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The well-known equations for the powder compaction process (PCP) in a rigid die published from the beginning of the last century until today were considered in this review. Most of the considered equations are converted into the dependences of densification pressure on the powder’s relative density. The equations were analyzed and their ability to describe PCP was assessed by defining the coefficient of determination when approximating experimental data on the compaction of various powders. It was shown that most of the equations contain two constants the values of which are determined by fitting the mathematical dependence to the experimental curve. Such equations are able to describe PCP with high accuracy for the compaction of powders up to a relative density of 0.9–0.95. It was also shown that different equations can describe PCP in the density range from the initial density to 0.9 with the same high accuracy, but when the process of compaction is extrapolated to higher values of density, the curves diverge. This indicates the importance of equations that can unambiguously describe PCP to a relative density equal to or close to 1.0. For an adequate description of PCP for relative density greater than 0.95, equations containing three or four constants have proven useful.