This paper presents the application of two versions of the multilayer fluidized bed made out of two materials with significantly different densities. The first type of fluidized bed was composed of raw cenospheres and quartz sand. The second type of fluidized bed was composed of cenospheres coated with iron oxides and quartz sand. A variable vertical density profiles in the prepared fluidized beds were confirmed, making them suitable for processing polymeric materials, specifically, polyolefins with a density below 1 g/cm3. The polyolefin pyrolysis process was investigated in both versions of the fluidized bed at temperatures of 520, 540, 560, and 590 °C. The products of the pyrolysis were monitored using high-resolution infrared spectroscopy (with a resolution of 1 cm−1). While the process is organized in these fluidized beds, the absence of the accumulation of solid residues is notable. The results show that the pyrolytic gaseous mixture is composed of numerous compounds, namely, unsaturated and saturated aliphatic hydrocarbons and benzene. The possibility of producing a gas rich in ethylene, propylene, and 1-butene during the pyrolysis was demonstrated. Additionally, during the pyrolysis of both polymers, the production of benzene was shown with yields, ranging from 5%wt. in the fluidized bed made out of raw cenospheres to 11 %wt. in the fluidized bed made out of cenospheres modified by iron oxides. Due to the complex nature of the resulting pyrolytic gas, it is suggested that we process the created gaseous mixtures entirely in a steam conversion process, making them a potential source of hydrogen.