Catalytic reagents (as selective as possible) are superior to stoichiometric reagents.
Catalysis is the action of a substance (the catalyst) on a chemical reaction so that (1) the reaction is accelerated and (2) the catalyst is unchanged once the reaction is complete. Catalysis allows reactions to be performed faster, or potentially at lower temperatures, and the catalyst can be reused to avoid waste.
Catalysis is central to green synthetic chemistry, presenting an opportunity for substantial savings in materials, energy, and costs. Compared to reagents that are consumed in a reaction, catalyst molecules can perform multiple transformations and so can be used in lower quantities. Frequently the amount of catalyst needed is less than 1% of the reactants.
The pharmaceutical industry is highly dependent on catalysts made from scarce elements. For example, palladium is widely used to form the carbon-carbon bonds that are the basis of organic molecules. The chemical industry has made substantial efforts to address the challenges posed by the cost and scarcity of catalysts based on precious metals, primarily by developing processes for reclaiming these metals. However, it would be preferable to use cheaper, more abundant metals in the first place. Promising examples include cobalt (Co), copper (Cu), nickel (Ni), and iron (Fe). These metals typically have a lower environmental impact than precious metals.