Companies that Produce the Most Plastic Waste Around the World - 24/7 Wall St.

Special Report

Published: February 1, 2024 11:31 am

New Jersey’s plastic ban drew headlines recently after a study questioned its effectiveness. While the single-use bag ban lowered bag volume use, it increased consumption of alternative plastics, which are not recycled, according to Freedonia Custom Research. Indeed, despite worldwide attempts to reduce single-use plastics through consumer awareness, corporate efforts, and regulation, the opposite was true in 2021 compared to 2019.

In fact, one of the key findings of the Plastic Waste Makers Index 2023 report, published this year by the Minderoo Foundation, an Australia-based philanthropy, 6 million more metric tons of plastic waste was generated in 2021 compared to 2019 — almost entirely made from fossil fuel-based new plastic polymers. What’s more, greenhouse gas emissions from single-use plastics in 2021 were equivalent to about 450 MNT of carbon dioxide, or, according to the report, more than the total GHG emissions of the United Kingdom. (These are the American cities with the most contaminated water.)

Within the industry, only 2% of single-use plastic came from recycled waste, though two companies are noted as making the strongest commitment. Far Eastern New Century and Indorama Ventures, which are among the companies producing most plastic waste, are also producing on par recycled polymers at scale. (Also see: These are the Top Carbon Dioxide Producing Cities on Earth.)

The report notes that “the top 20 list of petrochemical companies producing virgin polymers bound for single-use plastic remains effectively unchanged.” Here, 24/7 Wall St. is listing the top 50 companies that produce the most plastic waste based on the Plastic Waste Makers Index 2023 report. Among the top 10 producers are three U.S. companies and two Chinese companies. Of the 139 MNT of single-use plastic waste generated in 2021, the top 10 companies generated about 31% and the 50 companies on the list generated 62%.

The 50 companies on the list are ranked on the plastic waste generated in 2021, measured in millions of tons. We added cradle-to-grave greenhouse gas emissions measured in million tons of carbon dioxide equivalent. This measure considers impacts at each stage of a plastic product’s lifecycle, from the natural resources extracted to manufacturing and ultimately, disposal. The circularity score is the company’s improvement in its reuses of plastic resources.

Annual revenue figures came from a range of sources, including Yahoo! Finance and the company’s own sites. Revenue figures reported in foreign currency were converted to U.S. dollars using exchange rates as of Oct. 26, 2023.

50. Daelim Group

Single-use plastic waste generated, 2021: 0.4 million tons
GHG emissions for single-use plastics, 2021: 1.4 million tons of CO2e
Circularity score: N/A
Country: South Korea
Annual revenue, FY 2022: 7,319.0 billion KRW (est. $5.4 billion)

49. Ningxia Baofeng Energy Group

Single-use plastic waste generated, 2021: 0.5 million tons
GHG emissions for single-use plastics, 2021: 4.2 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 28.4 billion CNY (est. $4.0 billion)

48. Oil and Natural Gas Corporation

Single-use plastic waste generated, 2021: 0.5 million tons
GHG emissions for single-use plastics, 2021: 1.4 million tons of CO2e
Circularity score: E
Country: India
Annual revenue, FY 2023: 6,848.3 billion INR (est. $82.2 billion)

47. MOL Group

Single-use plastic waste generated, 2021: 0.5 million tons
GHG emissions for single-use plastics, 2021: 1.5 million tons of CO2e
Circularity score: D-
Country: Hungary
Annual revenue, FY 2022: $26.3 billion

46. Formosa Chemicals & Fibre Corporation

Single-use plastic waste generated, 2021: 0.5 million tons
GHG emissions for single-use plastics, 2021: 2.1 million tons of CO2e
Circularity score: D
Country: Taiwan
Annual revenue, FY 2022: 379.9 billion TWD (est. $11.8 billion)

45. SK Innovation Co

Single-use plastic waste generated, 2021: 0.5 million tons
GHG emissions for single-use plastics, 2021: 1.7 million tons of CO2e
Circularity score: D-
Country: South Korea
Annual revenue, FY 2022: 78,060.0 billion KRW (est. $57.8 billion)

44. Nan Ya Plastics Corporation

Single-use plastic waste generated, 2021: 0.6 million tons
GHG emissions for single-use plastics, 2021: 2.5 million tons of CO2e
Circularity score: N/A
Country: Taiwan
Annual revenue, FY 2022: 355.2 billion TWD (est. $11.0 billion)

43. Repsol

Single-use plastic waste generated, 2021: 0.6 million tons
GHG emissions for single-use plastics, 2021: 1.7 million tons of CO2e
Circularity score: C-
Country: Spain
Annual revenue, FY 2022: 75.2 billion EUR (est. $79.7 billion)

42. Sasol

Sasol building, Sandton, South... by flowcomm

Sasol building, Sandton, South... (CC BY 2.0) by flowcomm

Single-use plastic waste generated, 2021: 0.6 million tons
GHG emissions for single-use plastics, 2021: 1.9 million tons of CO2e
Circularity score: D-
Country: South Africa
Annual revenue, FY 2023: 289.7 billion ZAR (est. $16.3 billion)

41. Westlake Corporation

Single-use plastic waste generated, 2021: 0.6 million tons
GHG emissions for single-use plastics, 2021: 1.7 million tons of CO2e
Circularity score: D
Country: USA
Annual revenue, FY 2022: $15.8 billion

40. JBF Industries

Single-use plastic waste generated, 2021: 0.6 million tons
GHG emissions for single-use plastics, 2021: 3.0 million tons of CO2e
Circularity score: N/A
Country: India
Annual revenue, FY 2023: 11.0 billion INR (est. $.1 billion)

39. GAIL India

Single-use plastic waste generated, 2021: 0.7 million tons
GHG emissions for single-use plastics, 2021: 2.1 million tons of CO2e
Circularity score: D-
Country: India
Annual revenue, FY 2023: 1,456.7 billion INR (est. $17.5 billion)

38. Mitsui & Co.

Single-use plastic waste generated, 2021: 0.7 million tons
GHG emissions for single-use plastics, 2021: 2.7 million tons of CO2e
Circularity score: D
Country: Japan
Annual revenue, FY 2023: 14,306.4 billion JPY (est. $95.9 billion)

37. Yanchang Group

Single-use plastic waste generated, 2021: 0.7 million tons
GHG emissions for single-use plastics, 2021: 5.3 million tons of CO2e
Circularity score: E
Country: Hong Kong
Annual revenue, FY 2022: 29.9 billion HKD (est. $3.9 billion)

36. ENI

Single-use plastic waste generated, 2021: 0.8 million tons
GHG emissions for single-use plastics, 2021: 2.6 million tons of CO2e
Circularity score: D
Country: Italy
Annual revenue, FY 2022: 133.4 billion EUR (est. $141.4 billion)

35. Indian Oil Corporation

Single-use plastic waste generated, 2021: 0.8 million tons
GHG emissions for single-use plastics, 2021: 2.3 million tons of CO2e
Circularity score: D-
Country: India
Annual revenue, FY 2022: 8,417.6 billion INR (est. $101.0 billion)

34. Mitsubishi Chemical Corporation

Single-use plastic waste generated, 2021: 0.8 million tons
GHG emissions for single-use plastics, 2021: 2.7 million tons of CO2e
Circularity score: D
Country: Japan
Annual revenue, FY 2023: 4,634.5 billion JPY (est. $31.1 billion)

33. Abu Dhabi National Oil Company

Single-use plastic waste generated, 2021: 0.8 million tons
GHG emissions for single-use plastics, 2021: 2.8 million tons of CO2e
Circularity score: D
Country: UAE
Annual revenue, FY 2022: $2.7 billion

32. Chevron Corporation

Single-use plastic waste generated, 2021: 0.9 million tons
GHG emissions for single-use plastics, 2021: 2.8 million tons of CO2e
Circularity score: D
Country: USA
Annual revenue, FY 2022: $235.7 billion

31. China Coal

Single-use plastic waste generated, 2021: 0.9 million tons
GHG emissions for single-use plastics, 2021: 8.0 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 220.6 billion HKD (est. $28.7 billion)

30. Sumitomo Chemical

Single-use plastic waste generated, 2021: 0.9 million tons
GHG emissions for single-use plastics, 2021: 3.0 million tons of CO2e
Circularity score: D-
Country: Japan
Annual revenue, FY 2023: 2,895.3 billion JPY (est. $19.4 billion)

29. Phillips 66

Single-use plastic waste generated, 2021: 0.9 million tons
GHG emissions for single-use plastics, 2021: 2.9 million tons of CO2e
Circularity score: D
Country: USA
Annual revenue, FY 2022: $170.0 billion

28. LG Chem

Single-use plastic waste generated, 2021: 1.0 million tons
GHG emissions for single-use plastics, 2021: 3.2 million tons of CO2e
Circularity score: D
Country: South Korea
Annual revenue, FY 2022: 51,864.9 billion KRW (est. $38.4 billion)

27. Hanwha Chemical

Single-use plastic waste generated, 2021: 1.0 million tons
GHG emissions for single-use plastics, 2021: 3.2 million tons of CO2e
Circularity score: D
Country: South Korea
Annual revenue, FY 2022: 13,653.0 billion KRW (est. $10.1 billion)

26. Zhejiang Hengyi Group

Single-use plastic waste generated, 2021: 1.0 million tons
GHG emissions for single-use plastics, 2021: 4.9 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 152.1 billion CNY (est. $21.3 billion)

25. Nova Chemicals Corporation

Single-use plastic waste generated, 2021: 1.1 million tons
GHG emissions for single-use plastics, 2021: 3.0 million tons of CO2e
Circularity score: D
Country: Canada
Annual revenue, FY 2022: $4.5 billion

24. Siam Cement Group

Single-use plastic waste generated, 2021: 1.2 million tons
GHG emissions for single-use plastics, 2021: 4.0 million tons of CO2e
Circularity score: D
Country: Thailand
Annual revenue, FY 2022: 569.6 billion THB (est. $15.9 billion)

23. Zhejiang Wankai New Materials Co

Single-use plastic waste generated, 2021: 1.4 million tons
GHG emissions for single-use plastics, 2021: 6.7 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 19.4 billion CNY (est. $2.7 billion)

22. PTT PCL

Single-use plastic waste generated, 2021: 1.5 million tons
GHG emissions for single-use plastics, 2021: 4.9 million tons of CO2e
Circularity score: D
Country: Thailand
Annual revenue, FY 2022: 3,367.2 billion THB (est. $94.3 billion)

21. Far Eastern New Century

Single-use plastic waste generated, 2021: 1.5 million tons
GHG emissions for single-use plastics, 2021: 8.0 million tons of CO2e
Circularity score: B-
Country: Taiwan
Annual revenue, FY 2022: 263.9 billion TWD (est. $8.2 billion)

20. China Energy Investment Group

Single-use plastic waste generated, 2021: 1.5 million tons
GHG emissions for single-use plastics, 2021: 14.8 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2021: 691.0 billion CNY (est. $96.7 billion)

19. China Resources Chemical

Single-use plastic waste generated, 2021: 1.6 million tons
GHG emissions for single-use plastics, 2021: 7.4 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 17.3 billion CNY (est. $2.4 billion)

18. Jiangsu Hailun Petrochemical

Single-use plastic waste generated, 2021: 1.6 million tons
GHG emissions for single-use plastics, 2021: 7.6 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY N/A: N/A

17. Rongsheng Group

Single-use plastic waste generated, 2021: 1.7 million tons
GHG emissions for single-use plastics, 2021: 6.9 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 289.1 billion CNY (est. $40.5 billion)

16. SIBUR

Single-use plastic waste generated, 2021: 1.8 million tons
GHG emissions for single-use plastics, 2021: 5.9 million tons of CO2e
Circularity score: D
Country: Russia
Annual revenue, FY 2021: 731.0 billion RUB (est. $8.0 billion)

15. Formosa Plastics Corp

Single-use plastic waste generated, 2021: 1.8 million tons
GHG emissions for single-use plastics, 2021: 5.4 million tons of CO2e
Circularity score: D-
Country: Taiwan
Annual revenue, FY 2022: 251.6 billion TWD (est. $7.8 billion)

14. Lotte Chemical

Single-use plastic waste generated, 2021: 1.8 million tons
GHG emissions for single-use plastics, 2021: 6.7 million tons of CO2e
Circularity score: D
Country: South Korea
Annual revenue, FY 2022: 22,276.1 billion KRW (est. $16.5 billion)

13. TotalEnergies

Single-use plastic waste generated, 2021: 2.1 million tons
GHG emissions for single-use plastics, 2021: 7.2 million tons of CO2e
Circularity score: D
Country: France
Annual revenue, FY 2022: $263.3 billion

12. Borealis

Single-use plastic waste generated, 2021: 2.2 million tons
GHG emissions for single-use plastics, 2021: 7.2 million tons of CO2e
Circularity score: C-
Country: Austria
Annual revenue, FY 2022: 12.2 billion EUR (est. $13.0 billion)

11. Braskem

Single-use plastic waste generated, 2021: 2.6 million tons
GHG emissions for single-use plastics, 2021: 7.1 million tons of CO2e
Circularity score: C-
Country: Brazil
Annual revenue, FY 2022: 96.5 billion BRL (est. $19.3 billion)

10. Alpek SA de CV

Single-use plastic waste generated, 2021: 2.8 million tons
GHG emissions for single-use plastics, 2021: 12.6 million tons of CO2e
Circularity score: C-
Country: Mexico
Annual revenue, FY 2022: 212.4 billion MXN (est. $11.7 billion)

9. INEOS

Single-use plastic waste generated, 2021: 2.8 million tons
GHG emissions for single-use plastics, 2021: 9.3 million tons of CO2e
Circularity score: D
Country: United Kingdom
Annual revenue, FY 2022: 20.9 billion EUR (est. $22.2 billion)

8. Reliance Industries

Single-use plastic waste generated, 2021: 3.0 million tons
GHG emissions for single-use plastics, 2021: 10.8 million tons of CO2e
Circularity score: D-
Country: India
Annual revenue, FY 2023: 8,794.7 billion INR (est. $105.5 billion)

7. PetroChina

Single-use plastic waste generated, 2021: 4.2 million tons
GHG emissions for single-use plastics, 2021: 14.9 million tons of CO2e
Circularity score: E
Country: China
Annual revenue, FY 2022: 3,239.2 billion CNY (est. $453.5 billion)

6. LyondellBasell

Lyondell Houston sign 2018 by Lydia Howell

Lyondell Houston sign 2018 (CC BY 2.0) by Lydia Howell

Single-use plastic waste generated, 2021: 4.4 million tons
GHG emissions for single-use plastics, 2021: 13.4 million tons of CO2e
Circularity score: C-
Country: USA
Annual revenue, FY 2022: $50.5 billion

5. Saudi Aramco

Single-use plastic waste generated, 2021: 4.5 million tons
GHG emissions for single-use plastics, 2021: 14.9 million tons of CO2e
Circularity score: D
Country: Saudi Arabia
Annual revenue, FY 2022: 2,007.0 billion SAR (est. $535.2 billion)

4. Indorama Ventures

Single-use plastic waste generated, 2021: 4.6 million tons
GHG emissions for single-use plastics, 2021: 21.7 million tons of CO2e
Circularity score: C
Country: Thailand
Annual revenue, FY 2022: 656.3 billion THB (est. $18.4 billion)

3. Dow

Dow Chemicals Plans To Layoff 5,000 Employees

Single-use plastic waste generated, 2021: 5.3 million tons
GHG emissions for single-use plastics, 2021: 15.6 million tons of CO2e
Circularity score: C-
Country: USA
Annual revenue, FY 2022: $56.9 billion

2. Sinopec

Sinopec Garage by Michael Coghlan

Sinopec Garage (CC BY-SA 2.0) by Michael Coghlan

Single-use plastic waste generated, 2021: 5.8 million tons
GHG emissions for single-use plastics, 2021: 22.1 million tons of CO2e
Circularity score: D-
Country: China
Annual revenue, FY 2022: 3,318.2 billion CNY (est. $464.5 billion)

1. ExxonMobil

Single-use plastic waste generated, 2021: 6.0 million tons
GHG emissions for single-use plastics, 2021: 17.8 million tons of CO2e
Circularity score: D
Country: USA
Annual revenue, FY 2022: $398.7 billion

Read more: Special Report, environment, exxonmobil, ghg, Minderoo Foundation, oceans, Plastic, Plastic Waste Makers Index, pollution, recycling, single-use plastic, waste, Environment

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