Is there a Java way to pre-allocate drive space for exclusive usage in the application?
There is no requirement for this space to be a separate filesystem or a part of
You can pre-allocate space by writing a large file, but to be honest I wouldn't bother. Performance will be pretty good/ probably better than you need.
If you really needed performance, you'd be writing C++/C# and doing RAW I/O.
But that's typically only done when writing an RDBMS engine, high-volume media capture or similar.