Precision casting refers to the general term for the process of obtaining precision dimensional castings. Compared to traditional sand casting technology, precision casting produces castings with more precise dimensions and better surface smoothness. It includes investment casting, ceramic casting, precision corrosion-resistant pump casting, metal casting, pressure casting, and lost foam casting.

Precision casting, also known as wax loss casting, produces products that are precise, complex, and close to the final shape of the parts. They can be used directly without or with minimal processing, and are an advanced process for near net shape formation.