Whey is waste in the dairy industry, yet it's sold profitably as a dietary supplement and used all over the processed food market.

Unfit oranges, apples etc. are waste to the fruit producers, but juices love it.

Cow shit is a complete waste but is used as a fertilizer. Although, a bunch of cow shit is also thrown into rivers.

Wasted food is ground into powder and given to animals.

I guess food might be an exception. I don't know if there exists something similar for oil, chemicals etc.