Closing material loops in industrial manufacturing environments not only offers significant savings potential, but also the possibility of markedly reducing industry’s impact on the environment. This also opens up opportunities to reduce dependencies on global commodity markets, particularly when it comes to economically strategic commodities. To identify such critical raw materials, Fraunhofer IPA can assist by carrying out detailed criticality analyses. In addition, we examine and compare a variety of circular economy strategies to assess their ecological benefits. This results in concrete recommendations for action for the industry concerned.