THE CONCEPT, PRINCIPLES AND INNOVATIONS IN CIRCULAR ECONOMY
THE CONCEPT, PRINCIPLES AND INNOVATIONS IN CIRCULAR ECONOMY

Summary/Abstract: Circular economy (CE) is a relatively new model of production that focuses at achieving savings in energy consumption, raw materials, and other resources in order to optimize the social, environmental, technical and economic effects of used materials and circular products in a given society. As a relatively new framework for waste and resource management, the CE concept takes the place of the traditional linear model of production (the take-make-discard model), emphasizing systemic, planned and rational thinking and action. Today, examples of circular solutions in the contemporary world are numerous and present in many industries such as manufacturing, computing, construction, furniture industry, food industry, design and others. The article discusses in detail the difference between a linear and a circular model of economy, as well as the underlying principles on which this innovative concept is based. The paper also provides an overview of various innovations in the circular economy, pointing out their features and benefits. The article specifically examines product innovations, process innovations, eco-innovations, as well as incremental and radical innovations in this area. Finally, the article analyses the latest trends in the circular economy, with special emphasis on the business sector, the food industry, as well as on textile, pharmaceutical, automotive, construction industry and service sector.

• Details
• Contents