Centrifugal casting was invented in 1852 by Alfred Krupp to manufacture cast steel tires for railway wheels. It involves pouring molten metal into a rotating mold to produce thin-walled cylinders through the centrifugal force. Common applications include pipes, boilers, pressure vessels, and engine parts like cylinder liners and sleeve valves. The process provides high quality castings through the rapid solidification process imparted by the high-speed mold rotation.