On the Definition, Assessment and Enhancement of Circular Economy across Various Industrial Sectors: A Literature Review

Abstract

Circular economy has recently emerged as a key strategy for promoting sustainability and reducing waste in various industrial sectors. This paper provides an overview of circularity in aerospace, wind energy, transportation, automotive and sports goods using data and information from the literature and the EC funded project "RECREATE". The survey reviews the different definitions, assessment methods and metrics used to explore and evaluate circularity, including assessment frameworks such as Life Cycle Assessment (LCA) and assessment indicators. Furthermore, explores the challenges, possibilities and the available tools for enhancing circularity, such as digital tools. The survey highlights the importance of a holistic and systemic technique to circularity, concerning all stakeholders along the value chain. Overall, this study aims to contribute to a better understanding of circular economy and provides insights for future research.

Bibliometric Analysis on the Role of Sustainable Entrepreneurship in Addressing Circular Economy Challenges

“…Various industries have adopted circular economy principles, adapting their operations and business models accordingly [16]. For example, the aerospace industry focuses on designing aircraft components that can be easily disassembled and repaired, while the fashion sector emphasizes the use of sustainable fabrics and garments made from recycled materials [16], [17]. Digital technology plays a crucial role in advancing the circular economy, providing new ways to optimize resource usage, improve efficiency, and facilitate collaboration among stakeholders.…”

“…Digital technology plays a crucial role in advancing the circular economy, providing new ways to optimize resource usage, improve efficiency, and facilitate collaboration among stakeholders. The smart circular economy paradigm combines digital technologies with circular economy principles, leveraging big data analytics, IoT devices, blockchain, and AI algorithms to enhance resource management and drive innovation [17], [18]. Challenges associated with implementing the circular economy include changing consumer behaviors, developing effective policies and regulatory frameworks, and overcoming technical barriers related to material recovery and processing.…”