Business Models for Industrial Symbiosis: A Literature Review

Abstract

In recent years, companies have tried to implement various strategies focused on sustainability that impact the way they do business. This is how industrial symbiosis, which is a collaborative approach that favors the exchange of material, infrastructure, and energy resources that create economic and environmental benefits, arises. The implementation of industrial symbiosis is complex and requires collaboration and knowledge. Although there are empirical studies in countries where it has been developed, thus far, there has been no study integrating the advances in knowledge about industrial symbiosis. The main objective of this study is to become familiar with the current state-of-the-art industrial symbiosis and its business models in order to identify areas of opportunity and knowledge gaps. Through a bibliometric analysis and a systematic review of the literature, a codification of the dimensions and categories of the literature was carried out, identifying various tools, as well as theoretical models, simulation models, and business models designed to implement and evaluate a transition toward industrial symbiosis. The results indicate that the most studied variables are the material flow and the possible strategies that companies can adopt to move toward industrial symbiosis. However, there is still a need to go deeper into the study of cultural transformation, the ideal mechanisms to record and exchange information, and what negotiations are required to encourage collaboration.