Circular economy is a thriving economy that can benefit everyone within the limits of our planet. Our finite resources need to be used and preserved so that future generations can enjoy them, too. Circular economy is built on the idea that closed loops allow maximum value to be extracted from resources. Products last longer, and waste from one process can be used as a raw material in another process, which reduces the need for virgin resources, avoids waste, increases resource efficiency and thereby minimizes environmental impacts. Circular economy broadly covers two areas: biological materials and technical materials.