I'm no chemist, but even though this should probably be obvious to me, I'm still unsure. If we were trying to figure out the time scale for a gas-phase reaction between two hydrogen atoms in a molecular cloud (which has density $~10^4/$cm$^3$), apparently the reaction would happen on a time scale proportional to the inverse of the density multiplied by $10^{15}$ years.
Aside from the cloud not being dense and the probability that a collision will surpass the activation energy is small, is the time elongated because you need to induce a dipole moment between two hydrogen atoms to actually bind them together?
Edit: I recently read somewhere that even if the reactants would go into the unbound state of $H_2$ they can't emit a photon that would let it go into the bound state of $H_2$. I guess they are talking about quantum mechanics, but it is not obvious to me what the bound and unbound states of molecular hydrogen are. (If someone could clarify that too)