Toward a sustainable business model: A study of market perception and value propositions of stone dust concrete in Thailand

Abstract

AbstractThe stone mining and construction sectors are crucial for Thailand's economic advancement. Yet, they face issues such as substantial stone waste accumulation, causing environmental pollution and the resource‐intensive nature of concrete production. Existing studies lack comprehensive coverage of Thailand's specific environmental challenges related to these industries and their sustainable solutions. There is also a knowledge gap concerning region‐specific influences and the relationship between stone dust and concrete sustainability within Thailand's unique geographical and socio‐economic context. Furthermore, sustainable practices in stone dust concrete within Thailand are insufficiently investigated. To bridge these gaps, this study examines the viability of the stone dust concrete business and its potential to mitigate social and environmental challenges. The research reveals alignment between the stone dust concrete business model and stakeholder needs through interviews with industry stakeholders. Subsequently, barriers like the absence of sustainable concrete standards, higher costs, and limited consumer demand for eco‐friendly products are identified.