The element platinum can be used as a catalyst in some chemical reactions. allanswart/iStockphoto. Catalysts are the unsung heroes of the chemical reactions that make human society tick. A catalyst is some material that speeds up chemical reactions. With a helping hand from a catalyst, molecules that might take years to interact can now do so in seconds. Factories rely on catalysts to make everything from plastic to drugs. Catalysts help process petroleum and coal into liquid fuels. They’re key players in clean-energy technologies.