Precision casting, also known as lost-wax casting, produces products that are precise, complex, and close to the final shape of the part, and can be used directly with little or no machining. Therefore, investment casting is an advanced near-net-shape process.

In ancient China, the Prince Wu Ding, Bronze Jin, Bronze Lion, and others were all masterpieces of investment casting. Since investment casting was applied to industrial production in the 1940s, it has been developing at a relatively rapid pace over half a century, especially in European and American countries. In addition to aviation and weaponry applications, investment casting is now used in almost all industrial sectors, particularly in electronics, petroleum, chemical, energy, transportation, light industry, textiles, pharmaceuticals, medical devices, pumps, and valves. In recent years, China has also developed rapidly.

The development of investment casting technology has enabled it to produce not only small castings but also larger ones, with the largest investment casting profile dimension approaching 2m and the minimum wall thickness less than 2mm. At the same time, investment castings have become increasingly precise, achieving not only linear tolerances but also higher geometric tolerances. The surface roughness of investment castings has also become increasingly fine, reaching Ra0.4μm.