Phase equilibria refers to the condition in which two or more phases of a substance coexist at equilibrium, with no net change in the amounts of each phase over time. This concept is vital in chemical engineering as it helps in understanding how different states of matter—solid, liquid, and gas—interact with one another, particularly in processes such as distillation, crystallization, and extraction. Analyzing phase equilibria allows engineers to design more efficient processes by predicting how substances behave under various temperature and pressure conditions.