Chemical equilibrium is a state in which the concentrations of reactants and products in a chemical reaction remain constant over time. This occurs when the rate of the forward reaction is equal to the rate of the reverse reaction. The concept of chemical equilibrium is important in understanding how chemical reactions proceed and reach a state of balance. Factors such as temperature, pressure, and concentration can affect the position of equilibrium in a reaction. Studying chemical equilibrium helps scientists predict the behavior of chemical reactions and design processes that maximize product formation.