The Global Plastic Waste to Fuel Market was valued at USD 1.52 Billion in 2023 and is projected to reach USD 3.18 Billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period (2024–2031). This robust growth is fueled by the global plastic pollution crisis, stringent environmental regulations, advancements in conversion technologies like pyrolysis and depolymerization, and the increasing demand for alternative fuels across various industries.

As the world grapples with the dual challenges of waste management and energy security, pioneering companies are developing innovative technologies to convert non-recyclable plastic waste into valuable fuels and chemical feedstocks. In this blog, we profile the Top 10 Companies in the Plastic Waste to Fuel Industry—a dynamic mix of technology innovators, chemical processors, and waste management pioneers leading the charge toward a circular economy.

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🔟 1. Alterra Energy (Vadxx Energy)

Headquarters: Akron, Ohio, USA
Key Technology: Thermal Catalytic Depolymerization (TCD)

Alterra Energy, formerly known as Vadxx Energy, is a frontrunner in chemical recycling technology. Their proprietary TCD process efficiently converts mixed plastic waste into synthetic crude oil, which can be refined into diesel, naphtha, and other valuable products. The company focuses on modular, scalable systems suitable for deployment at waste management facilities.

Innovation & Sustainability Initiatives:

• Commercial-scale facility operations validating TCD technology

• Partnerships with major waste management corporations for feedstock supply

• Focus on creating a closed-loop solution for end-of-life plastics

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9️⃣ 2. JBI (Plastic2Oil)

Headquarters: Niagara Falls, New York, USA
Key Technology: Plastic2Oil (P2O) process

JBI, Inc. is known for its patented Plastic2Oil processor, a compact and efficient system that converts unsorted, unwashed plastic waste into ultra-low sulfur diesel fuel and other fuels. The process is continuous and requires no external energy source after initiation, making it highly energy-efficient.

Innovation & Sustainability Initiatives:

• Proven ability to process a wide variety of plastic feedstocks

• Production of fuels that meet industry specifications

• Strategy for licensing technology to global partners

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8️⃣ 3. Brightmark Energy (RES Polyflow)

Headquarters: San Francisco, California, USA
Key Technology: Pyrolysis

Brightmark Energy, after acquiring RES Polyflow, is advancing large-scale plastic waste pyrolysis. Their flagship facility in Ashley, Indiana, is designed to convert over 100,000 tons of plastic waste annually into ultra-low sulfur diesel, naphtha, and wax, diverting significant waste from landfills and incineration.

Innovation & Sustainability Initiatives:

• Development of one of the largest commercial-scale plastic-to-fuel facilities in the U.S.

• Commitment to a circular economy model for plastics

• Focus on partnerships with municipalities and consumer brands

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7️⃣ 4. Agilyx Corporation

Headquarters: Tigard, Oregon, USA
Key Technology: Advanced Pyrolysis and Purification

Agilyx is a recognized leader in chemically recycling difficult-to-recycle post-use plastics back into virgin-equivalent plastics and fuels. Their technology platform can handle a range of polystyrene and other mixed plastics, converting them into high-value feedstocks. The company has a strategic partnership with ExxonMobil among others.

Innovation & Sustainability Initiatives:

• Pioneering chemical recycling for polystyrene back into styrene monomer

• Strategic alliances with major petrochemical companies

• Focus on creating circularity for complex plastic waste streams

Download FREE Sample Report:
Plastic Waste to Fuel Market – View in Detailed Research Report

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6️⃣ 5. OMV Aktiengesellschaft

Headquarters: Vienna, Austria
Key Technology: ReOil® pyrolysis process

OMV, a leading integrated oil, gas, and chemical company, has developed its proprietary ReOil® technology. This innovative process converts plastic waste into synthetic crude oil directly at a refinery site, which is then processed into fuel or used as a feedstock for plastics production, creating a true circular loop.

Innovation & Sustainability Initiatives:

• Successful pilot plant operations integrated within the Schwechat refinery

• Plans to scale up ReOil® technology to industrial capacity

• Commitment to recycling over 200,000 metric tons of plastic waste annually by 2025

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5️⃣ 6. Klean Industries

Headquarters: Vancouver, Canada
Key Technology: Pyrolysis and Gasification

Klean Industries specializes in tire and plastic waste pyrolysis and gasification technologies. They provide turnkey solutions for converting waste plastics into carbon black, biofuel, and syngas. Their focus is on creating industrially proven, environmentally sound recycling systems for a global clientele.

Innovation & Sustainability Initiatives:

• Development of patented pyrolysis reactor systems

• Focus on recovering high-value materials like carbon black and fuel oil

• Global project development and technology licensing model

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4️⃣ 7. Nexus Fuels

Headquarters: Atlanta, Georgia, USA
Key Technology: Advanced Recycling Pyrolysis

Nexus Fuels converts plastic waste into liquid hydrocarbons (Nexus Liquid) and chemical feedstocks for manufacturing new plastics. They have established a commercial-scale facility and secured significant partnerships, including a multi-year agreement with Shell Chemical to supply pyrolysis liquid derived from plastic waste.

Innovation & Sustainability Initiatives:

• Successful commercial-scale production and offtake agreements with major energy companies

• Focus on producing feedstocks for new plastic production (circular recycling)

• Scalable processing model for continuous plastic waste conversion

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3️⃣ 8. Plastic Advanced Recycling Corporation (PARC)

Headquarters: Los Angeles, California, USA
Key Technology: Catalytic Pyrolysis

PARC is dedicated to converting mixed waste plastics into high-quality, low-sulfur fuels and petrochemical feedstocks. Their technology is designed to handle a broad spectrum of plastic polymers without the need for extensive pre-sorting, making it highly adaptable to real-world waste streams.

Innovation & Sustainability Initiatives:

• Catalytic process enhancement for higher yield and fuel quality

• Development of mobile and fixed plant solutions

• Focus on creating economic value from landfill-diverted plastics

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2️⃣ 9. Beston Machinery

Headquarters: Zhengzhou, China
Key Technology: Pyrolysis Plant Systems

Beston Machinery is a prominent global supplier of waste recycling equipment, including advanced pyrolysis plants for converting plastic and tire waste into fuel oil, carbon black, and syngas. They offer a range of models with different capacities, catering to small and medium-sized enterprises worldwide.

Innovation & Sustainability Initiatives:

• Supplying pyrolysis plants to over 30 countries

• Continuous R&D to improve automation, safety, and efficiency

• Focus on providing affordable and effective waste-to-energy solutions

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1️⃣ 10. MK Aromatics Limited

Headquarters: Hyderabad, India
Key Technology: Pyrolysis and Distillation

MK Aromatics is a significant player in India’s waste-to-fuel sector, specializing in the pyrolysis of plastic waste to produce industrial fuels. The company has established processing facilities and plays a crucial role in addressing India’s substantial plastic waste challenge by converting it into usable energy resources.

Innovation & Sustainability Initiatives:

• Operational experience in managing and processing large volumes of plastic waste

• Production of fuel oils compliant with industrial standards

• Contributing to waste management and energy generation goals in a key growth market

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Plastic Waste to Fuel Market – View in Detailed Research Report

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🌍 Outlook: The Future of Plastic Waste to Fuel Is Integrated and Circular

The plastic waste to fuel market is transitioning from niche pilot projects to an essential component of global waste management and circular economy strategies. While technological maturity and economic viability continue to improve, the industry is poised for significant integration with existing petrochemical and refining infrastructures.

📈 Key Trends Shaping the Market:

• Policy push: Increasing government bans on plastic landfilling and incentives for chemical recycling.

• Corporate commitments: Major brands and petrochemical companies investing in and securing recycled feedstocks to meet sustainability targets.

• Technology advancement: Scaling up of pyrolysis and depolymerization technologies for higher efficiency and lower costs.

• Supply chain development: Establishment of robust collection and sorting systems to provide consistent feedstock for conversion facilities.

Get Full Report Here:
Plastic Waste to Fuel Market – View in Detailed Research Report

The companies leading this sector are not just managing waste—they are building the infrastructure for a sustainable, resource-efficient future, turning a pressing environmental problem into a valuable energy opportunity.