Circular Economy – Thematic Intelligence

Circular Economy Thematic Intelligence Report Overview

The circular economy seeks to eliminate waste and pollution, keep products and materials in use, and regenerate natural systems. Its importance is fueled by the challenges of limiting climate change, combating biodiversity loss, and preserving scarce resources. It is replacing the traditional linear economy, which typically follows a take, make, use, and dispose of the path and has less regard for the resources used and the environmental consequences.

The circular economy is a fundamentally different approach to designing, producing, and using products. It decouples economic progress from the consumption of the Earth’s finite resources. The circular economy thematic intelligence report will help to understand what the circular economy is, why it is important, and how it could impact your business.

Circular Economy – Thematic Briefing

There are two approaches to production – the traditional linear model and the circular approach. The linear model focuses on profitability, while the circular approach prioritizes sustainability.

The circular economy market improves sustainability, so it can play an important role in improving companies’ and organizations’ ESG performance. The circular economy developments will also go together with progress towards several sustainable development goals (SDGs) and the net-zero transition.

The circular economy analysis also covers:

• Timeline

Circular Economy Approaches to Production

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Circular Economy - Framework

The circular economy is a fundamentally different approach to how products are designed, produced, and used, in which economic progress is decoupled from the consumption of the Earth’s finite resources. The global economy must shift from a linear model to a circular one to tackle resource scarcity and climate change.

The goals of the circular economy include the following:

• Reducing consumption of raw materials.
• Maximizing the time that products remain in circulation through circular production and services.
• Using renewable energy wherever possible
• Achieving these goals will minimize the waste production. The stages that enable this reduction are in two complementary cycles. Firstly, the circular production cycle that outlines how products are designed and produced. Secondly, the circular service cycle that outlines how products are used and repaired.

Technologies Enabling the Circular Economy

A plethora of technologies can help drive the transition from a linear to a circular economy. They include 3D printing, advanced materials, artificial intelligence (AI), batteries, blockchain, climate tech, collaboration tools, electric vehicles, the Internet of Things (IoT), robotics, and smart cities.

3D printing: it is also known as additive manufacturing, refers to the process of joining materials to make objects from three-dimensional model data, usually layer upon layer. Its ability to extend the life of products and use sustainable materials will enable the circular economy to expand across manufacturing verticals. However, successfully implementing 3D printing requires reimagining manufacturing processes and their associated supply chains. High equipment costs and limited feedstock availability are also significant challenges. Despite this, the wide-ranging advantages will encourage industries to overcome these challenges.

Advanced materials: Advanced materials provide a distinct advantage in performance when compared to conventional materials. The advanced materials category includes smart materials, which have dynamic features that adapt to their environment in response to external stimuli. The stimuli and response may be mechanical, electrical, magnetic, optical, thermal, or chemical.

Technologies Enabling the Circular Economy

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Scope

This report provides an overview of the circular economy, tracks its rise to prominence, and evaluates the potential for further progress. It also includes Globaldata’s circular economy framework, which demonstrates how a product’s lifecycle is circular through the production cycle and the service cycle. Finally, it identifies the technologies enabling the circular economy, including 3D printing, advanced materials, artificial intelligence, batteries, blockchain, climate tech, collaboration tools, electric vehicles, the Internet of Things, robotics, and smart cities.

Key Highlights

• The World Resources Institute estimates that more than 90% of all materials that are extracted and used leave the economy. The circular economy is a fundamentally different approach to designing, producing, and using products. It decouples economic progress from the consumption of Earth’s finite resources.
• New business models will be required to transition companies toward the circular economy. For example, companies must take a whole-system perspective on resource use that considers closed supply chains. Business models must also shift from maximizing profits through product sales to developing sustainable business models throughout a product’s lifecycle.
• As the focus on conserving materials and reducing waste increases, circular businesses will start to disrupt their linear counterparts due to greater efficiency, long-term sustainability, and regulatory compliance. The most successful businesses of the future will be circular, as they will demonstrate greater long-term financial stability and win stakeholder support. Circular practices will therefore ensure business success while helping the planet.

Reasons to Buy

As humankind grapples with the challenges of living sustainably and limiting climate change, the importance of the circular economy is clear. This report will help you understand what the circular economy is, why it is important, and how it could impact your business.