I wish playing volleyball would make you grow taller, but sadly that is not the case. Exercising and keeping in shape is splendid for you and your health, but in no way will it make you taller. I've been playing volleyball for over 6 years, and I've been at my same 5'2 height the entire time!
For the Olympic team, the coaches pick players that are naturally taller. Believe me, these girls didn't start as midgets, then play volleyball, and then grow into giants. It is the way there bodies were planned from birth! Most of them probably have very tall parents and even without playing the sport, they would have reached their height regardless.
It's a big benefit in volleyball if you are a taller person (except if you are playing back-row). But in no way what-so-ever does playing the sport make you taller! Your height is preplanned in your DNA. There is absolutely no way you could change it. Exercising or not, you are still going to grow according to your genetics and DNA.
So in the end, playing a sport will not make you taller at all. It is a common misconception!
Though exercising will stimulate growth, you won't go beyond what your body has planned.
If you enjoy the sport, keep on playing! (:
Hopefully I helped out! (:
6 + Years of Volleyball