Stakeholder-Centred Value Creation Framework for Advancing Circular Economy Practices in the Construction Industry: A Systematic Review

Abstract

Despite increasing emphasis on circular economic practices, the construction sector remains slow to adopt circular approaches, largely due to limited stakeholder engagement. In this context, understanding how value is perceived by stakeholders is critical for motivating their participation in circular economy practices. This study presents a systematic literature review conducted in accordance with PRISMA guidelines to examine value creation models and frameworks across multiple disciplines. A total of 49 studies were identified and analysed through a structured screening and qualitative content analysis process. The review clarifies the conceptual underpinnings of “value” in a circular system, examines how value can be created and delivered, and identifies the essential elements required for a value creation framework in construction to motivate stakeholders toward circular practices. The findings highlight that a circular value creation framework needs to collectively generate, deliver, and capture economic, environmental, and social value for multiple stakeholders. Based on these insights, the study develops a stakeholder-centred conceptual framework for value creation in construction waste management. The originality of the framework lies in its integration of stakeholder value perceptions with circular economic implementation, explicitly addressing the challenges of the complex and project-based construction environment.