A Study of the Industrial Circular Economy Using an Essence Analysis Model

Article history Received: 17 September 2019 Accepted: 24 September 2019 Published Online: 30 September 2019 The concept of a circular economy can be applied to different business fields. The development of the existing industrial cycles with an overemphasis on economic development and the twisting concept of a circular economy, has limited any substantial contribution of the circular economy to environmental resources. In some cases, resources are even being consumed to create resource recycling. This puts a greater burden on the environment. To gain an understanding of the actual value of a circular economy to the environment and resources, an “Essence Analysis Model” has been used in this study. This combines sustainable development issues in a multi-faceted and multi-leveled analysis of the industrial circular economy model to guide its development more directly towards fundamentals. An analysis of the results of the “Essence Analysis Model” was used to find and change the original strategy, and develop a means of improving the circular economy model. The results of the study make an essential contribution to the sustainable development of environmental resources and the reduction of greenhouse gas emission.