Explore the foundational theories underpinning chemical engineering practices, elucidating their role in optimizing chemical processes. Investigate principles governing reaction kinetics, thermodynamics, and reactor design, emphasizing their application in achieving desired product yields and purity. Analyze the significance of catalysts, reaction mechanisms, and process parameters in enhancing efficiency. Consider the integration of theoretical frameworks with practical applications to ensure sustainable production. How do these theoretical foundations contribute to advancements in chemical engineering practices and address contemporary challenges in industries reliant on chemical processes?