Polyethylene (PE) films are one of the highest production volume plastic products, but they have very low recycling rates. A novel liquid fed pyrolysis process (LFP) is an advanced recycling technology that can be applied to waste PE films. In this work, two environmental and six economic metrics were evaluated for the LFP process under different scenarios with a baseline production capacity of 8,400 Metric Tons (MT) of pyrolysis products/year. The studied scenarios considered process improvement such as heat integration, changing the final product yields, and location of the LFP process facility (i.e., co-located at a petrochemical facility or located remotely). Results show that producing refined pyrolysis wax in remote areas is the most environmentally favorable and profitable scenario. The LFP process co-located at a petrochemical facility and selling only liquid and gaseous pyrolysis products to the facility would require a capacity of >18,000 MT/year to be economically feasible. Heat integration led to greenhouse gas emission savings of at least 14%, 19%, and 32% for the pyrolysis oil, gas, and wax products, respectively. The LFP process in remote and less populated locations producing a high yield of refined wax may be a feasible solution for increasing recycling rates of PE films.