Condensation polymerization is a chemical process where monomers join together to form a polymer while releasing small molecules, often water or methanol. This reaction typically occurs between two different functional groups, such as an alcohol and a carboxylic acid, leading to the formation of a covalent bond and the elimination of a small molecule. This type of polymerization is commonly used to create various materials, including polyesters and nylons. The resulting polymers can have diverse properties and applications, making them valuable in industries like textiles, plastics, and coatings.