Charcoal canister / filter
Ok, please don’t quote me on this but my GUESS is that it’s a Charcoal Filter that does something with excess fuel vapour before it’s released into atmosphere or routed back to engine via inlet manifold. .
I could be completely wrong (I’m new here too so expecting to be told as much!) but that’s what it looks like to me.
Might be worth reading up on Volvo charcoal filter to see if they gives you any more clue.
Good luck
Oh and if you need one I’m breaking a full 2.3 240 GLT lol 😂 so check my other post for pics
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