In this review paper the potential of optimal control theory for optimization in the time as well as in the space domain is highlighted. Various case studies in the area of (bio-)chemical reactors are discussed ranging from the dual problem of performance optimization and accurate parameter identification (time domain) to plug flow reactor optimization (space domain). Furthermore, it is illustrated that application of the Minimum Principle of Pontryagin to distributed parameter systems leads to extremal control profile structures (in the space domain) which are very similar to those obtained during optimization (in the time domain) of well mixed bioreactors. The analogy is reflected at various levels during analytical optimal control computations.