The space between the two mold halves, which should be filled with melt, is called cavity.
The shrinkage of the material needs to be considered for the production of the cavity to get dimensionally accurate parts.
In the injection molding simulation, it is important to use the cavity size for the warpage calculation.

Cavity in Plastic Industry

Injection Molding: Half of the cavities visible in the ejection side of the mold.

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This glossary of plastic industry is provided by PLEXPERT Canada Inc.