We present an overview of the synthesis, physical characterization and catalytic properties of polymer-supported reagents and consider the major advantages and drawbacks in the use of polymeric supports for synthesis and catalysis. The most important development in recent years appears to be the characterization of polymeric supports by thermal analysis, advanced spectroscopic and scattering methods, and electron microscopy. As a result, the mechanism of catalytic activity is better understood; the challenge remains to prepare supported catalysts with good mechanical properties, and high chemical stability at elevated temperatures, and to prevent the loss of often pricey catalysts such as rhodium during numerous catalytic cycles.