Circular economy_need of the hour

Since from the middle of 18th century where industrial evolution begun, process were followed in a linear model of production and consumption. When a process having open end of receiving or acquiring raw materials converts into goods, sold, used and an open end of disposing or wasting materials, such scenarios defined as linear processes.

Circular economy once an abstract, a theoretical hypothesis of economic model; how to recycle resources in a process to obtain maximum productivity. Modern day the abstract became a reality when business models starts to practice circular economical concepts rather than struck in linear processes.

Circular economy is restorative and regenerative by the nature of design and aims to keep materials, products, and components at their highest utility and value at all times.

Most commonly known benefits of the circular economy are as it Increases productivity correlated with profit, while reducing material scarcity and dependence on importation of new raw materials, minimizing ecological stress due to prevention of resource over exploitation and pollution, Simultaneously by generation of new jobs and value added services to job markets.

Larger and stronger Industrial sectors like plastics, and petrochemicals circular economy is very important in the seance of resource utilization and material management. Because whole family of thermoplastics are with the capability of remolding, several time usage of these as raw materials is quite possible. However countries where national policies are highly influence by the politics and personal propagandas, achieving most out of circular economy is a true challenge.

Find out more on circular economy https://www.ellenmacarthurfoundation.org/circular-economy/concept