Reaction kinetics is the study of the rates at which chemical reactions occur and the factors that influence these rates. It involves investigating how the concentration of reactants, temperature, pressure, and catalysts affect the speed at which a chemical reaction takes place. By understanding reaction kinetics, scientists can predict and control the outcomes of chemical reactions, optimize reaction conditions for desired products, and develop new processes for industrial applications. This field is crucial for various industries such as pharmaceuticals, materials science, and environmental science.