Transforming Solid Waste Management: Business Model Innovation for A Circular Steel Industry

The steel industry must transition from the linear “take-make-dispose” model to a circular economy, where solid waste management serves as a critical enabler. Although CE has been widely studied, the role of Solid Waste Management (SWM) remains underexplored. This study employs ISM and MICMAC analysis to investigate 16 enablers of SWM in the steel sector and map their interrelationships. Findings reveal that steel scrap segregation, waste handling, and recycling serve as foundational operational enablers, while cost management and the sharing economy emerge as powerful systemic drivers. The hierarchical analysis shows that segregation enables downstream processing and recycling, supporting remanufacturing and resource maximization, culminating in sharing economy models. The MICMAC classification positions segregation, processing, and recycling as linkage factors, indicating their influence is contingent on cost and quality management. Successful CE transition requires prioritizing segregation as the operational entry point while strengthening cost management and sharing economy capabilities as strategic drivers. JEL Codes: Q50, Q53