I was trying to understand difference between @component and @Bean in Spring framework, and referred to this SO question.
Based on the answer, I got a fair understanding, and tried to reinforce the concept by implementing a simple example (to check whether I really understood the concept).
The below is the code which I wrote. I wanted to see @Bean for "third party" libs (so that it can be instantiated using @Bean annotation)
package com.example.thirdparty.code;
public class ThirdPartyUtil {
    public ThirdPartyUtil() {
    }
    public void print(String str) {
        System.out.println("String passed is --> " + str);
    }
}
In above, I tried to simulate a "third party lib/class - NON spring" which isn't a spring based (and so there won't be any @component in that class.
Now, below is the main application which I created:
package com.example.spring;
import org.springframework.beans.factory.annotation.Autowired;
import org.springframework.context.ApplicationContext;
import org.springframework.context.annotation.AnnotationConfigApplicationContext;
import org.springframework.context.annotation.Bean;
import org.springframework.context.annotation.ComponentScan;
import org.springframework.context.annotation.Configuration;
import org.springframework.stereotype.Component;
import com.example.thirdparty.code.ThirdPartyUtil;
@Configuration
@ComponentScan(basePackages = { "com.example.spring" })
@Component
public class SpringBasedMainApp {
    @Autowired
    private ApplicationContext ctx;
    @Autowired
    private static ThirdPartyUtil thirdPartyUtil;
    @Bean
    public ThirdPartyUtil beanThirdPartyUtil() {
        try {
            Class c = getClass().getClassLoader().loadClass("com.example.thirdparty.code.ThirdPartyUtil");
            return (ThirdPartyUtil) ctx.getBean(c);
        } catch (ClassNotFoundException e) {
            throw new IllegalArgumentException("Exception");
        }
    }
    public static void main(String[] args) {
        ApplicationContext ctx = new AnnotationConfigApplicationContext(SpringBasedMainApp.class);
        System.out.println("thirdPartyUtil is " + thirdPartyUtil);
    }
}
I was hoping that using @Bean annotation, it would create ThirdPartyUtil as Spring bean, and then inject using @Autowired into field thirdPartyUtil.
However, when I run this program, I got altogether a surprising exception, listed below:
Exception in thread "main" org.springframework.beans.factory.BeanCreationException: Error creating bean with name 'beanThirdPartyUtil' defined in com.example.spring.SpringBasedMainApp: Bean instantiation via factory method failed; nested exception is org.springframework.beans.BeanInstantiationException: Failed to instantiate [com.example.thirdparty.code.ThirdPartyUtil]: Factory method 'beanThirdPartyUtil' threw exception; nested exception is org.springframework.beans.factory.BeanCurrentlyInCreationException: Error creating bean with name 'beanThirdPartyUtil': Requested bean is currently in creation: Is there an unresolvable circular reference?
    at org.springframework.beans.factory.support.ConstructorResolver.instantiate(ConstructorResolver.java:627)
    at org.springframework.beans.factory.support.ConstructorResolver.instantiateUsingFactoryMethod(ConstructorResolver.java:456)
    at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.instantiateUsingFactoryMethod(AbstractAutowireCapableBeanFactory.java:1288)
    at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.createBeanInstance(AbstractAutowireCapableBeanFactory.java:1127)
    at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.doCreateBean(AbstractAutowireCapableBeanFactory.java:538)
    at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.createBean(AbstractAutowireCapableBeanFactory.java:498)
    at org.springframework.beans.factory.support.AbstractBeanFactory.lambda$doGetBean$0(AbstractBeanFactory.java:320)
    at org.springframework.beans.factory.support.DefaultSingletonBeanRegistry.getSingleton(DefaultSingletonBeanRegistry.java:222)
    at org.springframework.beans.factory.support.AbstractBeanFactory.doGetBean(AbstractBeanFactory.java:318)
    at org.springframework.beans.factory.support.AbstractBeanFactory.getBean(AbstractBeanFactory.java:199)
    at org.springframework.beans.factory.support.DefaultListableBeanFactory.preInstantiateSingletons(DefaultListableBeanFactory.java:846)
    at org.springframework.context.support.AbstractApplicationContext.finishBeanFactoryInitialization(AbstractApplicationContext.java:863)
    at org.springframework.context.support.AbstractApplicationContext.refresh(AbstractApplicationContext.java:546)
    at org.springframework.context.annotation.AnnotationConfigApplicationContext.<init>(AnnotationConfigApplicationContext.java:88)
    at com.example.spring.SpringBasedMainApp.main(SpringBasedMainApp.java:41)
Caused by: org.springframework.beans.BeanInstantiationException: Failed to instantiate [com.example.thirdparty.code.ThirdPartyUtil]: Factory method 'beanThirdPartyUtil' threw exception; nested exception is org.springframework.beans.factory.BeanCurrentlyInCreationException: Error creating bean with name 'beanThirdPartyUtil': Requested bean is currently in creation: Is there an unresolvable circular reference?
    at org.springframework.beans.factory.support.SimpleInstantiationStrategy.instantiate(SimpleInstantiationStrategy.java:185)
    at org.springframework.beans.factory.support.ConstructorResolver.instantiate(ConstructorResolver.java:622)
    ... 14 more
Caused by: org.springframework.beans.factory.BeanCurrentlyInCreationException: Error creating bean with name 'beanThirdPartyUtil': Requested bean is currently in creation: Is there an unresolvable circular reference?
    at org.springframework.beans.factory.support.DefaultSingletonBeanRegistry.beforeSingletonCreation(DefaultSingletonBeanRegistry.java:339)
    at org.springframework.beans.factory.support.DefaultSingletonBeanRegistry.getSingleton(DefaultSingletonBeanRegistry.java:215)
    at org.springframework.beans.factory.support.AbstractBeanFactory.doGetBean(AbstractBeanFactory.java:318)
    at org.springframework.beans.factory.support.AbstractBeanFactory.getBean(AbstractBeanFactory.java:224)
    at org.springframework.beans.factory.support.DefaultListableBeanFactory.resolveNamedBean(DefaultListableBeanFactory.java:1112)
    at org.springframework.beans.factory.support.DefaultListableBeanFactory.resolveBean(DefaultListableBeanFactory.java:407)
    at org.springframework.beans.factory.support.DefaultListableBeanFactory.getBean(DefaultListableBeanFactory.java:341)
    at org.springframework.beans.factory.support.DefaultListableBeanFactory.getBean(DefaultListableBeanFactory.java:335)
    at org.springframework.context.support.AbstractApplicationContext.getBean(AbstractApplicationContext.java:1101)
    at com.example.spring.SpringBasedMainApp.beanThirdPartyUtil(SpringBasedMainApp.java:33)
    at com.example.spring.SpringBasedMainApp$$EnhancerBySpringCGLIB$$d93c67f4.CGLIB$beanThirdPartyUtil$0(<generated>)
    at com.example.spring.SpringBasedMainApp$$EnhancerBySpringCGLIB$$d93c67f4$$FastClassBySpringCGLIB$$9349d69b.invoke(<generated>)
    at org.springframework.cglib.proxy.MethodProxy.invokeSuper(MethodProxy.java:244)
    at org.springframework.context.annotation.ConfigurationClassEnhancer$BeanMethodInterceptor.intercept(ConfigurationClassEnhancer.java:363)
    at com.example.spring.SpringBasedMainApp$$EnhancerBySpringCGLIB$$d93c67f4.beanThirdPartyUtil(<generated>)
    at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
    at sun.reflect.NativeMethodAccessorImpl.invoke(NativeMethodAccessorImpl.java:62)
    at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:43)
    at java.lang.reflect.Method.invoke(Method.java:498)
    at org.springframework.beans.factory.support.SimpleInstantiationStrategy.instantiate(SimpleInstantiationStrategy.java:154)
    ... 15 more
I didn't understand why it is giving this exception. I am creating an applicationContext using AnnotationConfigApplicationContext and passing the necessary details to it.
I expected it to work, however got the above exception (which I have seen maiden time).
Why has this exception been thrown, is my understanding not correct about @Bean?
 
     
     
    