Shrinkage due to loss of water and alcohol is seen in:
SILICA BONDED INVESTMENTS 
The silica is the binder. It is derived from ethyl silicate or aqueous dispersion of colloidal silica or sodium silicate. These are less commonly used. 
TYPES 
Based on the binder used two types may be seen. One such investment consists of silica refractory, which is bonded by the hydrolysis of ethyl silicate in the presence of hydrochloric acid. The product of the hydrolysis is the formation of a colloidal solution of silicic acid and ethyl alcohol.
Silica bonded
Gypsum bonded
Magnesium bonded
Phosphate bonded