"How does the process of chemical reaction engineering contribute to the design and optimization of chemical processes? Discuss the fundamental principles governing chemical reactions, including reaction kinetics and thermodynamics. Explore the role of reactor design and operation in achieving desired conversion rates, selectivity, and product yields. Analyze the impact of factors such as temperature, pressure, and catalysts on reaction kinetics and reactor performance. Furthermore, consider the importance of safety considerations and environmental sustainability in chemical reaction engineering. Provide examples of industrial applications, such as the production of petrochemicals, pharmaceuticals, and renewable fuels, highlighting the diverse applications and challenges in this field."