Resumen del autor, extraído del trabajo. Europe is frequently portrayed as a relatively disadvantaged location for the production of bulk petrochemicals. Most certainly there are a number of unwanted aspects associated with the region, and these are well documented. They include limited access to cheap, gas feedstock, the fragmented nature of production sites, and more generally, structural/market impediments within the various economies. The conventional interpretation, however, misses the major, sea changes which are presently affecting the region and which are perceptibly laying down the foundations for improve standards of performance. Not least amongst these changes is the wave of mergers and alliances which has recently impacted Europe. Industry consolidation is radically reshaping the ownership structure of the asset base, which in turn should provide the basis for material restructuring. Allied to this trend are a number of wider, supportive developments. These include the eastward extension of the market to embrace much of the FSU, and the gradual evolution of a single economic union. Together with an increasingly flexible attitude towards reform, this is leading to an improved use of resources. The overall consequence is that the fundamental structure of the industry, and the environment in which it operates, is changing for the better. And whilst the agenda is by no means complete, there is no doubting that a substantial transformation is underway. Coupled with the appropriate management culture, such reform means that Europe now offers distinct and material upside potential for companies in the petrochemicals industry.