Substantial resource savings

While the attention for the circular economy is increasing, the extraction and prices of primary raw materials are still increasing (see figure 1). According to Circle Economy calculations, 9% of all raw materials were fully recycled by 2019. In 2018, this percentage was slightly higher at 9.1% (Circle Economy, 2019). In theory, in the circular economy, 100% of all raw materials are fully recycled, and no new virgin raw materials are needed. It will take a very long time for this scenario to be achieved, because methods will have to be found to fully recycle materials that are currently used in products (Fellner, Lederer, Scharff, and Laner, 2017).

Figure 1: Sharp increases in commodity prices since 2000 have erased all 20th century price declines, following the McKinsey Commodity Price Index (WE Forum, 2017).