This chapter is a short review of the experimental studies of the geochemical aspects of impact cratering, conducted at the Vernadsky Institute in collaboration with other institutes in Moscow and Saint Petersburg. The results of these studies have shown that the different elements and chemical compounds composing geologic materials have different volatilities. This makes impact-induced vaporization/condensation a possible factor in geochemical differentiation of planetary materials. The experiments show that fast impact-induced vaporization differs in many ways from slow equilibrium and quasi-equilibrium vaporization. The experiments also indicate that impact-induced vaporization produces materials with a compositional trend toward granite-like compositions. This may have implications for the generation of Early Precambrian granites on Earth.