Chemical Reaction Engineering
A space time of 3 hours for a flow reactor means that

It takes three hours to dump the entire volume of the reactor with feed
Three reactor volumes of feed can be processed every hour
The time required to process one reactor volume of feed (measured at specified conditions) is 3 hours
Conversion is cent per cent after three hours

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Chemical Reaction Engineering
For a tubular reactor with space time 'τ' and residence time 'θ', the following statement holds good.

τ = θ , for an isothermic tubular reactor in which the density of the process fluid is constant
τ and θ are always equal
τ = θ , when the fluid density changes in the reactor
τ = θ , for a non-isothermal reactor

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