Not only do steel parts remain durable for longer, even in hard wearing applications, it is easy to reduce their weight using advanced high strength steels (AHSS). And steel’s durability ensures components can be effectively reused, remanufactured, or recycled indefinitely.
In some regions of the world, governments are planning actions to help ‘close the loop’ of product lifecycles. The goal of these initiatives is to ensure maximum value is extracted from raw materials, products, and waste. They hope to achieve the goal by promoting recycling and re-use of materials to create benefits for both the environment and the economy.
A truly circular economy embraces four principles which are widely referred to as the ‘4 Rs’:
Steel will be the backbone of the future circular economy due to its: