What is the Circular Economy?

The phrase “Circular Economy” is often used in relation to recycling and sustainability, and whilst the underlying idea behind the circular economy is relatively simple, many people are still unsure what it actually means to be a part of it.

At its most fundamental level, the circular economy aims to move away from the traditional linear model of production and consumption in which products and materials can only be used once, and instead they can be reused, recycled, or refurbished to extend their lifecycle beyond a single use. Ideally, the circular economy would not only extend the lifecycle of many products and materials, but it would ensure they can be continually cycled back into the production process, eliminating the need for new and often finite natural resources.

There are several key principles of the circular economy which address how a product’s lifecycle can be extended, such as:

• Designing out waste: Products are designed and produced with their lifecycle in mind, focusing on longevity and durability to maximise their use. This also applies to the materials and components that are used, where base materials are chosen based on how well they can be recycled or reused after the product is obsolete.
• Extending the product usage: Through repair, refurbishment, and remanufacturing, new uses should be sought for products beyond their intended and original use, rather than just being disposed of.
• Recovering resources: Base materials and components should be recovered from end-of-life products and reintroduced into the production process, reducing the need for raw materials.

At Oil Salvage, we collect waste oil from all over the UK and bring it back to our state-of-the-art vacuum distillation re-refinery. Here, the waste oil is treated and processed, removing impurities and producing a high-quality base oil, which is sent on to manufacturers to be reintroduced into the production process, completing the circle. Beyond this, the byproducts of the re-refinery process can also be reused in processes like asphalt production, ensuring that every drop of waste oil is given a new lease of life!

Contact Oil Salvage today and see how we can help you!