Yes. In physics, the amplitude of a sound wave is the size of its pressure (or displacement) fluctuation. That amplitude largely determines the wave’s intensity (energy per unit time per unit area). Intensity is what listeners hear as volume or loudness: larger amplitude means a more intense—and usually louder—sound.
Intensity rises with the square of amplitude, so doubling pressure amplitude roughly quadruples intensity. Everyday “volume” also depends on frequency and hearing, so two tones with the same amplitude can still sound unequally loud; the basic link remains that bigger amplitude tends to mean higher intensity and greater perceived volume.
Source: Encyclopaedia Britannica — Sound