How can chemical engineers apply theoretical principles to optimize processes, enhance product quality, and ensure safety in various industries such as pharmaceuticals, petrochemicals, and materials manufacturing? Discuss the integration of thermodynamics, kinetics, and transport phenomena theories to analyze reaction mechanisms, design reactors, and control process variables. Explore the role of computational modeling and simulation techniques in predicting system behavior and guiding experimental investigations. Additionally, investigate how chemical engineers utilize principles of mass and energy balances to develop efficient separation processes and minimize environmental impact. Evaluate the significance of theoretical understanding in addressing contemporary challenges like sustainable production and resource utilization.