The Global Advanced Recycling Technologies Market was valued at USD 3.61 Billion in 2025 and is projected to reach USD 9.12 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period (2026–2034). This robust growth is fueled by stringent global regulations on plastic pollution, ambitious corporate sustainability commitments for recycled content, and major investments in pyrolysis, depolymerization, and gasification facilities worldwide.

As the world urgently seeks solutions to the plastic waste crisis, advanced recycling technologies are emerging as a critical enabler of the circular economy. These processes break down plastic waste to its molecular components, creating virgin-quality materials for new products. In this blog, we profile the Top 10 Companies in the Advanced Recycling Technologies Industry—a dynamic mix of chemical giants, technology pioneers, and waste management leaders who are transforming waste into valuable resources.

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🔟 1. Honeywell International

Headquarters: Charlotte, North Carolina, USA
Key Offering: UpCycle Process Technology (Pyrolysis-based)

Honeywell is a global industrial giant leveraging its extensive engineering and process technology expertise to advance pyrolysis-based recycling. Its UpCycle Process Technology converts mixed waste plastics into recycled polymer feedstock (RPF), which can be used to create new plastics. Honeywell’s scale and ability to integrate with existing infrastructure make it a significant force in scaling advanced recycling.

Sustainability Initiatives:

• Partnerships with waste management firms to deploy UpCycle Technology globally

• Aiming to significantly increase the volume of plastics that can be recycled

• Commitment to achieving carbon neutrality in its operations and facilities

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9️⃣ 2. Agilyx

Headquarters: Tigard, Oregon, USA
Key Offering: Chemical recycling for polystyrene (PS) and mixed plastics

Agilyx is a recognized pioneer in chemical recycling, with a proven track record in converting difficult-to-recycle plastics back into virgin-quality styrene monomer and other valuable products. The company’s technology is particularly effective for polystyrene, a plastic often considered unrecyclable through conventional means.

Sustainability Initiatives:

• Developing one of the first commercially viable chemical recycling pathways for polystyrene

• Strategic partnerships with major chemical producers for offtake agreements

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8️⃣ 3. Plastic Energy

Headquarters: London, United Kingdom
Key Offering: TAC™ (Thermal Anaerobic Conversion) technology

Plastic Energy is a leading pioneer in chemical recycling, operating commercial-scale plants in Spain that convert end-of-life plastic waste into a recycled oil called TACOIL. This feedstock is used by major petrochemical companies to produce food-grade recycled plastics.

Sustainability Initiatives:

• Operating two commercial plants in Spain with plans for global expansion

• Exclusive partnerships with companies like SABIC and TotalEnergies to create circular polymers

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7️⃣ 4. Carbios

Headquarters: Saint-Beauzire, France
Key Offering: Enzymatic depolymerization for PET plastics

Carbios is revolutionizing plastic recycling with its proprietary enzyme-based technology. Its biological process selectively depolymerizes PET (polyethylene terephthalate) waste into its core monomers, which can then be repolymerized into virgin-quality PET suitable for food-contact applications.

Sustainability Initiatives:

• Building a demonstration plant in France with a capacity of 50,000 tonnes

• Partnerships with L’Oréal, Nestlé, and PepsiCo to develop enzymatic recycling for packaging

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6️⃣ 5. Enerkem

Headquarters: Montreal, Canada
Key Offering: Gasification technology for municipal solid waste

Enerkem operates a full-scale commercial facility in Edmonton, Canada, that uses gasification to convert non-recyclable municipal solid waste into biofuels and chemicals. Its technology provides a solution for diverting waste from landfills while producing circular methanol and ethanol.

Sustainability Initiatives:

• Diverting over 100,000 tonnes of waste from landfills annually at its Edmonton facility

• Expanding its technology to Europe and the United States with new projects underway

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5️⃣ 6. Mura Technology

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

Mura Technology has developed a unique hydrothermal process that uses supercritical water to convert mixed plastic waste into oils and chemicals in under 30 minutes. The company is rapidly scaling its technology with multiple plants under development globally.

Sustainability Initiatives:

• Partnership with Dow to build multiple HydroPRS facilities in the U.S. and Europe

• Aiming to have 1 million tonnes of recycling capacity in operation or development by 2025

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4️⃣ 7. Loop Industries

Headquarters: Terrebonne, Quebec, Canada
Key Offering: Depolymerization technology for PET and polyester fiber

Loop Industries has developed a low-energy, zero-pressure depolymerization technology that breaks down PET plastic and polyester fiber waste into its base monomers. These monomers are purified to virgin-quality and used to create new PET plastic with no degradation in quality.

Sustainability Initiatives:

• Strategic partnerships with Indorama Ventures and SK Geo Centric to build manufacturing facilities

• Focus on creating an infinite loop for PET plastics without downcycling

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3️⃣ 8. Chevron Phillips Chemical Company

Headquarters: The Woodlands, Texas, USA
Key Offering: Integration of advanced recycling outputs into circular polymer production

As a major global petrochemical producer, Chevron Phillips Chemical is strategically investing in advanced recycling to create circular polymers. The company is securing chemically recycled feedstocks to produce certified circular PE and PP, meeting the growing demand from brand owners.

Sustainability Initiatives:

• Investment in advanced recycling projects and partnerships with technology providers

• Launch of Marlex® Anew Circular Polyethylene with up to 100% circular content

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2️⃣ 9. Quantafuel ASA

Headquarters: Oslo, Norway
Key Offering: Integrated plastic waste sorting and chemical recycling

Quantafuel operates an integrated process that combines plastic waste sorting with chemical recycling via pyrolysis. The company’s technology converts mixed plastic waste into valuable products including certified recycled oil for new plastic production, with a focus on maximizing resource efficiency.

Sustainability Initiatives:

• Partnership with BASF to optimize and scale chemical recycling operations

• Focus on creating a circular value chain for plastic waste in Europe

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1️⃣ 10. Pyrowave

Headquarters: Montreal, Canada
Key Offering: Catalytic microwave depolymerization for polystyrene

Pyrowave has pioneered a unique technology that uses microwaves to depolymerize polystyrene waste back into styrene monomer. The process is electrified, offering a potentially lower carbon footprint compared to thermal methods, and produces a high-purity monomer identical to virgin material.

Sustainability Initiatives:

• Deploying commercial-scale units with strategic partners in North America

• Focus on creating a circular economy for polystyrene with certified recycled content

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🌍 Outlook: The Future of Advanced Recycling Is Scalable and Integrated

The advanced recycling market is undergoing rapid transformation. While traditional mechanical recycling still handles the majority of recyclable plastics, advanced technologies are becoming essential for managing complex and contaminated waste streams. The industry is moving toward integrated waste management systems where mechanical and chemical recycling complement each other.

📈 Key Trends Shaping the Market:

• Rapid capacity expansion with over 50 major projects announced globally

• Regulatory push for recycled content mandates of 25-30% by 2030 in key markets

• Vertical integration along the plastics value chain from waste management to polymer production

• Technology convergence with digital solutions for tracking recycled content and carbon footprint

Get Full Report Here: Advanced Recycling Technologies Market – View in Detailed Research Report

The companies listed above are not only addressing plastic pollution—they’re building the foundation for a truly circular economy for plastics.