Reduced the use of non renewable resources like crude

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reduced the use of non-renewable resources like crude oil which has been substituted with theuse of water power to run machines in industries thus closing material loops and also the use ofvirgin materials in the manufacturing systems.Key drive factors of circular economyThere are key drive factors that trigger an advanced transition of the circular economy from thelinear economy. They can be economic, social or technical factors that increase the adoption ofthe circular economy. For example, increased awareness on changing lifestyles and priorities inthe utilization of resources has triggered adoption of this economy.
Improvement in education systems has also lead to a smooth transition to the circular economyas new skills are offered on how to preserve and conserve natural resources that are scarce. Also,there is the interaction of scholars who exchange experience on how circular economy hassignificantly contributed to waste and pollution management.Increased technological, social and organization innovations have led increased adoption of thecircular economy by most companies and processing industries. Many industries today aresaving the considerable amount of capital in purchasing virgin materials as they are reusing andrecycling their products. (Bechtel, N., 2013).Industries collaboration has also increased the adoption rate of the circular economy where by-products or wastes of one company become a resource material for another company. Forexample, animal feed processing company uses by-products from sugar processing company thusless wastage of resources and pollution.Increased use of recycled materials or products as secondary materials though of lesser qualityhas grown adoption of the circular economy by many organizations. Many industries arerecycling their products and others extending their lifetime to maximize their profits through thecircular economy. (Bechtel, N., 2013).Eco-designing being a way of upgrading, refurbishment and remanufacturing has also been seenas driving factor of the circular economy. Many industries are designing their by-products to bereused in their production process or to be used as a raw material in another industry thusreducing the demand for primary materials.
Benefits of circular economyThe circular economy has resulted in some advantages in businesses, society, and theenvironment. For example, Europe Union's waste policies have significantly contributed to theacceptance of circular economy as it mainly focuses on recycling. On resource benefits, thiseconomy has decreased demand for primary raw materials as most companies are depending onhigh-quality recycled materials, which are locally available and cheap. For example, organicfarming has embraced this economy as most farmers use non-synthesized products but rather userecycled products like kitchen refuse or animal wastes.

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Term
Fall
Professor
NoProfessor
Tags
Waste, circular economy

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