how large a block can grow?
A blockchain is composed of many blocks. The bitcoin blockchain has 660,000+ blocks currently. Bitcoin blocks are limited by the Bitcoin rules to be at most 4KWU (kilo weight units). This is equivalent to 1MB of data per block, however, thanks to the Segwit upgrade, additional information can be stored in each block, making the maximum possible data per block be 4MB. The average block contains ~1.3MB of data.
The blockchain itself keeps growing as more and more blocks are added to it, so yes, storage requirements are rising 1.3MB / 10 minutes. Currently, a computer which stores the entire blockchain (all blocks) plus extra metadata and other indexes, takes up around 330GB - 400 GB.