Reaction rate, in chemistry, the speed at which a chemical reaction proceeds. It is often expressed in terms of either the concentration (amount per unit volume) of a product that is formed in a unit of time or the concentration of a reactant that is consumed in a unit of time. Alternatively, it may be defined in terms of the amounts of the reactants consumed or products formed in a unit of time. For example, suppose that the balanced chemical equation for a reaction is of the form