Businesses across Europe are fully engaged to maximise the value of materials, transition to circular business models and achieve a circular economy. This can be best achieved through a functioning market for secondary raw materials (SRMs) and circular products. A real market for SRMs requires a global level-playing field with similar regulatory frameworks and standards, but within the EU several challenges and untapped opportunities still remain. Among others, BusinessEurope recommends policy-makers to put more emphasis on removing inconsistencies and filling the gaps in the current policy framework, starting with a better implementation of the existing waste acquis, including more guidance to Member States and performing ex-post impact assessments on the benefits of full compliance.