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The circular economy is a widely discussed topic in the field of Eco-industrial initiatives and environmentally responsive economies. The current economic and industrial model which is termed as the produce-use-dispose model is a linear model in which the resources are lost forever after their utilization; a waste of resources as well as money. In addition to economic impact, it creates immense pressure on the environment while disposing of the waste products. For this reason, scholars are trying to find an effective solution to this problem by ensuring the re-utilization of resources. The economic concept of the circular economy ensures the recycling and utilization of resources and closes the resource loop. In a world of reducing and often scarce natural resources, the recycling and utilization of resources increase the opportunities for economic growth– this is especially important given the rising demand for natural …