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Contemporary concepts of economic development in the European Union (EU) progressively focus on environmental protection. At the stage of their implementation by the EU countries, some of the policies include sustainable development, green growth, green economy, and circular economy. The leading concept in this regard is the European Green Deal. It should be noted, that a multitude of means exists within EU countries, by which plastic waste is managed, with a significant share of countries largely landfilling it or placing it in waste storage facilities. The aim of this paper is to introduce a proposal meant to propel the prospects related to managing plastic waste through chemical recycling. This recommendation would contribute to the fulfillment of the circular economy model implemented by EU countries. By means of chemical recycling, it is possible to transform plastic waste into a full-value market product which can be used, for example, in the fuel industry, constituting an alternative to the agricultural products used (biocomponents). Thereby, it may result in the production of, for example, engine fuel components that can replace plant-based components or other added-value chemicals. The findings demonstrated on four levels: environmental, technical, economic, and managerial, confirm the technological possibilities of chemical recycling of plastics and the legitimacy of the implementation of the presented concept. [ABSTRACT FROM AUTHOR]