The term "circular economy" has been gaining traction as a more sustainable alternative to the traditional linear economy. In a linear economy, resources are extracted from the earth, used to create products, and then disposed of once those products reach the end of their usefulness. This system is not sustainable in the long term. It relies on a finite supply of resources and results in large amounts of waste. In contrast, a circular economy is designed to be more efficient and sustainable, aiming to minimise waste and maximise the use of resources. In a circular economy, products are made to last longer. They are recycled or reused at the end of their useful life instead of being thrown away. This closed-loop system is better for the environment and helps preserve valuable resources. As more businesses and consumers become aware of the benefits of a circular economy, this model will likely continue to gain popularity.
Instead of discarding products when they reach the end of their life cycle, businesses are designed to keep them in use for as long as possible.
Creating a product that can be recycled or reused at the end of its useful life is an important part of the product development process.