The Global Plastic Chemical Recycling Technology Market was valued at USD 1.23 Billion in 2023 and is projected to reach USD 3.56 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period (2024–2030). This robust expansion is driven by stringent global regulations on plastic waste, corporate commitments to sustainability, and the urgent need for advanced solutions that go beyond traditional mechanical recycling to handle mixed, contaminated, or multilayered plastics.

As the world grapples with the plastic pollution crisis, chemical recycling emerges as a pivotal technology to create a true circular economy, transforming waste back into virgin-quality feedstock. This blog profiles the Top 10 Companies in the Plastic Chemical Recycling Technology Industry—a dynamic mix of technology pioneers, chemical giants, and specialized innovators who are turning plastic waste into valuable resources.

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🔟 1. Mura Technology

Headquarters: London, United Kingdom
Key Technology: Hydrothermal Plastic Recycling Solution (HydroPRS™)

Mura Technology is a frontrunner in next-generation advanced recycling. Its proprietary HydroPRS™ process uses supercritical water to convert plastic waste back into the oils and chemicals from which they were made, in under 25 minutes. The output is equivalent to fossil-based feedstocks for new plastic production.

Strategic Initiatives:

• Global rollout via licensed partnerships with Dow, Igus, and Mitsubishi Chemical.
• First commercial-scale plant operational in Teesside, UK (2024).
• Target to have 1 million tonnes of annual recycling capacity operational or in development by 2025.

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9️⃣ 2. Carbios

Headquarters: Clermont-Ferrand, France
Key Technology: Enzymatic Depolymerization

Carbios is a biotechnology leader specializing in enzymatic recycling of PET (polyethylene terephthalate) and PLA (polylactic acid) plastics. Its proprietary enzymes selectively depolymerize plastic waste into its core monomers, which can be repolymerized into new, high-quality plastics with no loss of integrity—enabling infinite recycling.

Strategic Initiatives:

• World’s first PET biorecycling plant in partnership with Indorama Ventures, set for commissioning in 2025.
• Collaborations with major brands like L’Oréal, Nestlé Waters, and PepsiCo.
• Focus on textiles (polyester) as a key future application.

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8️⃣ 3. Plastic Energy

Headquarters: London, United Kingdom
Key Technology: Thermal Anaerobic Conversion (TAC)

Plastic Energy is a global leader in chemical recycling focused on converting end-of-life plastic waste into a recycled feedstock called TACOIL. This product is used by petrochemical companies to replace fossil oils in the production of virgin-quality, food-grade plastics.

Strategic Initiatives:

• Two operational commercial plants in Spain with over 10 years of operational history.
• Strategic partnerships and JVs with TotalEnergies, ExxonMobil, and Saudi Aramco.
• Expanding footprint across Europe and Asia with several new plants under development.

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7️⃣ 4. Agilyx

Headquarters: Tigard, Oregon, USA
Key Technology: Pyrolysis and Process Control

Agilyx is a pioneer in chemically recycling difficult-to-recycle post-use plastics, notably polystyrene (PS), PMMA, and mixed plastic streams. Its advanced pyrolysis technology and proprietary process control systems convert waste plastics back into virgin-equivalent styrene oil and other chemicals.

Strategic Initiatives:

• Joint venture with Americas Styrenics (AmSty) for the production of circular styrene.
• Licensing its technology to partners globally to scale production.
• Focusing on chemical feedstock recovery for high-value applications.

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6️⃣ 5. Eastman

Headquarters: Kingsport, Tennessee, USA
Key Technology: Polyester Renewal Technology & Carbon Renewal Technology

Eastman, a global specialty materials company, has developed two groundbreaking molecular recycling technologies. Its polyester renewal technology uses methanolysis to depolymerize polyesters, while its carbon renewal technology uses a gasification process for mixed plastics and fibers.

Strategic Initiatives:

• Investing over $1 billion in a molecular recycling facility in Kingsport, Tennessee.
• Multi-year supply agreements with brands like Procter & Gamble and Estée Lauder.
• Creating dedicated “circular” product lines for textiles and packaging.

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5️⃣ 6. Loop Industries

Headquarters: Terrebonne, Quebec, Canada
Key Technology: Low-Temperature, Low-Pressure Depolymerization

Loop Industries’ technology is designed to break down waste PET plastic and polyester fiber into their base monomers—dimethyl terephthalate (DMT) and monoethylene glycol (MEG)—without the use of heat or pressure. This process can handle colored, opaque, and contaminated plastics.

Strategic Initiatives:

• Strategic partnership with SK Geo Centric (South Korea) to build an Asian Infinite Loop™ facility.
• Technology licensing agreements with global players like Indorama Ventures.
• Aiming to commercialize its patented depolymerization technology at scale.

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4️⃣ 7. BASF (ChemCycling™)

Headquarters: Ludwigshafen, Germany
Key Technology: Thermochemical Conversion (Pyrolysis) & Mass Balance Approach

BASF, a chemical industry titan, is advancing chemical recycling through its ChemCycling™ project. It uses pyrolysis oil derived from plastic waste as a feedstock in its existing production Verbund (integrated production network), allocating recycled content to specific products via a certified mass balance method.

Strategic Initiatives:

• Collaborating with pyrolysis oil suppliers like Quantafuel and New Energy.
• Offering commercial quantities of mass-balanced certified products to customers across industries.
• Driving standardization and certification for chemical recycling across Europe.

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3️⃣ 8. Enerkem

Headquarters: Montreal, Quebec, Canada
Key Technology: Gasification and Catalytic Synthesis

While known for waste-to-biofuels, Enerkem’s technology platform is also a form of chemical recycling. It converts carbon-based materials, including non-recyclable mixed plastics, into methanol, ethanol, and other circular chemicals through gasification and catalytic synthesis.

Strategic Initiatives:

• Fully commercial, world-first facility in Edmonton, Canada, in operation since 2017.
• Partnership with Shell, SUEZ, and Nouryon to drive technology deployment in Europe.
• Focus on integrating plastic waste into its municipal solid waste feedstock.

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2️⃣ 9. Quantafuel (Part of Viridor)

Headquarters: Oslo, Norway
Key Technology: Integrated Pyrolysis and Fractionation

Quantafuel, now part of the UK’s Viridor group, specializes in converting mixed plastic waste into high-quality synthetic fuels and chemical feedstocks. Its technology combines pyrolysis with advanced purification and fractionation processes to produce a consistent, clean product slate.

Strategic Initiatives:

• Commercial-scale plant in Skive, Denmark, operational and supplying pyrolysis oil to BASF.
• Strategic focus within Viridor’s £317 million investment in plastic recycling.
• Developing a pipeline of new plants to process hard-to-recycle plastic waste in the UK.

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1️⃣ 10. Dow Inc.

Headquarters: Midland, Michigan, USA
Key Technology: Multi-Technology Investment & Partnerships

As one of the world’s largest producers of plastics, Dow is a critical enabler of the chemical recycling ecosystem. Rather than a single proprietary technology, Dow acts as a strategic partner and offtaker, integrating chemically recycled feedstocks—from pyrolysis oil to depolymerized monomers—into its massive production assets.

Strategic Initiatives:

• Multiple partnerships with technology providers like Mura Technology and Fuenix Ecogy.
• Investing in and securing supply of circular feedstocks for PE production in the US and Europe.
• Launched commercially available, mass-balanced circular polyethylene resins for packaging.

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Plastic Chemical Recycling Technology Market – View in Detailed Research Report

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🌍 Outlook: The Future of Plastic Chemical Recycling Is Integrated and Mass-Scale

The plastic chemical recycling market is transitioning from pilot projects to commercial reality. While challenges around economics, feedstock supply, and policy remain, the trajectory points toward integration into the global petrochemical infrastructure, creating a parallel, circular feedstock stream.

📈 Key Trends Shaping the Market:

• Mass Balance Certification Gaining Momentum: Industry-wide adoption of ISCC PLUS and similar schemes is providing the accounting framework to track recycled content through complex supply chains, unlocking market value.
• Legislative Push for Mandated Recycled Content: Regulations in the EU (SUP Directive, Packaging and Packaging Waste Regulation) and various U.S. states are creating mandatory demand pull for chemically recycled plastics.
• Hybrid & Consortium Models: No single technology wins; success lies in integrated value chains linking waste managers, technology providers, chemical companies, and brand owners.
• Technology Diversification: While pyrolysis currently leads in capacity announcements, enzymatic and solvent-based purification (solvolysis) technologies are scaling rapidly for specific polymer streams like PET and textiles.

The companies profiled above are not just developing technologies—they are actively constructing the industrial-scale infrastructure needed to close the loop on plastic waste, proving that today’s packaging can become tomorrow’s raw material.

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Plastic Chemical Recycling Technology Market – View in Detailed Research Report