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The phrase "growing industry" is correct and usable in written English.
You can use it to refer to an industry that is growing in terms of profits, employees, or products. For example, "The renewable energy industry is a growing industry, and many new job opportunities are arising."
Exact(51)
Tourism is a growing industry.
The growing industry faces criticism.
"This is a growing industry," she said.
It's a well-paid, growing industry.
They are a growing industry as well.
Kronos is part of a growing industry.
Similar(9)
Digital games are considered as the fastest growing industry in America.
It spends an estimated 97 million in support of the tobacco-growing industry.
They have included property development, the citrus-growing industry, ship registration and, most controversially, telecom.
You'll be doing yourself and the grape-growing industry a great favor.
Yet the fast-growing industry has no government regulation.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com