If the old adage “Time is money” holds true, then catalysts are more than worth their weight in gold. It is through the use of catalysts (catalysis) that we are able to control the speed of the chemical reactions crucial to every segment of modern industry. An estimated 90% of chemical manufacturing processes in the United States currently involve catalysis, and catalysts are used in the production of nearly a quarter of all commercial products. These products include polyester, petroleum, margarine, and pharmaceutical active ingredients.

In addition to accelerating the speed of reactions, catalysts are a lynchpin in environmental protection. Catalysts have a positive effect on the environmental requirements for a reaction, lowering the amount of energy required to activate the process – this, in turn, saves manufacturers on energy costs. By affecting the way in which a reaction takes place (including acting as an intermediary), catalysts can also reduce the waste byproducts that would be generated during a typical stoichiometric reaction. Because they are not, by definition, actually consumed in the reactions they accelerate, catalysts typically have a long shelf life, allowing them to be utilized again and again.