The increased rate of post‐use accumulation of the heteroatom‐containing plastic wastes like polyethylene terephthalate (PET), polycarbonate (PC) and polyurethane (PU) in the environment propels the research for effective and sustainable valorization. In this study, PET from bottle waste, PC from compact discs and PU from waste wind turbine blade were characterized and employed for fast pyrolysis experiments. Importantly, red mud (RM), a mixed oxide, rich in Fe, Al, Si, Na and Ca, was used as a catalyst for fast pyrolysis. The effects of temperature and feed‐to‐catalyst ratio on product yields were studied to elucidate the product formation mechanism. Benzoic acid and its derivatives, bisphenol‐A and oxygenated aromatics, and 4,4’‐methylenebisbenzamine were the major products obtained from the non‐catalytic fast pyrolysis of PET, PC and PU, respectively. The use of RM improved the yield of aromatic hydrocarbons from PET to 27.8 wt.% at 550°C, phenolics from PC to 46.6 wt.% at 550°C, and 4,4’‐methylenebisbenzamine to 34.9 wt.% at 650oC. The catalytic activity of RM is ascribed to the presence of active basic sites. The present study paves the path for the catalytic upcycling of challenging plastic wastes using industrial waste like RM as a sustainable catalyst from a circular economy viewpoint.