Question: are chemical reactions limited by the availability of reactants

Answer: Yes, The reactions are due to collisions of reactant species. The frequency with which the molecules or ions collide depends upon their concentrations. The more crowded the molecules are, the more likely they are to collide and react with one another. Thus, an increase in the concentrations of the reactants will usually result in the corresponding increase in the reaction rate, while a decrease in the concentrations will usually have a reverse effect. For example, combustion will occur more rapidly in pure oxygen than in air (21% oxygen).