The vapor–liquid equilibrium (VLE) data of the ternary system methanol–methyl formate–methylal was measured at atmospheric pressure using a modified Rose equilibrium kettle with vapor–liquid double circulation method. The experiment data were correlated with the NRTL, UNIQUAC, and Wilson activity coefficient model equations. The results shown that the root mean square deviation (RMSD) between the calculated and simulated values of the three models followed the order: UNIQUAC ≈ NRTL < Wilson, and except for the RMSD (T) in the range of 0.4–0.5, the others are less than 0.01. In addition, the NRTL model was selected to link with Aspen Plus software to simulate the separation process of polyformaldehyde (POM) waste liquid. The simulation results show that the methyl formate in POM waste stream can be purified by simple distillation, while the methylal separated from the POM waste liquid, which was affected by factors like the azeotropic behavior of binary components, necessitates a complex distillation process. Under optimal operating conditions, the recovery yield of methyl formate through direct distillation can reach 99.7%, with an economic benefit of 6960.1 CNY per ton of waste liquid. Although the economic benefit of the multi-component distillation reach 7281.2 CNY, the increase in the number of equipment and the complexity of the process have negative impacts.
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