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"growing speculation" is correct and usable in written English.
You can use it when you are referring to a situation where something is being widely discussed or guessed about, and the discussion or guesswork is getting more intense. For example, "With the 2020 presidential election just around the corner, there is growing speculation about who will win".
Exact(58)
Nevertheless, Apple is one of the technology giants at the centre of growing speculation about smartwatches.
As the 2003 season wore on, there was growing speculation that he would not play again.
And over the last year there's been growing speculation as to just what the new guidelines might look like.
But there is growing speculation that the FBI investigation of Mr Franklin is the tip of an iceberg.
Still, there was growing speculation in Brazil that the episode might not have unfolded as the swimmers described it.
Yet growing speculation about an upset has raised activists' expectations: anything but a win will be seen as another setback.
Now there's growing speculation that Obama might actually replace Biden with Clinton in the run up to 2012.
We sat down with him Wednesday in his office, amid growing speculation that Israel and the Palestinians were poised to restart peace negotiations.
The order comes amid growing speculation about Facebook's preparations for an initial public offering, which could be valued at more than $100 billion.
Faced with growing speculation over the fate of the country's top bank regulator, Hakuo Yanagisawa, Mr Koizumi chose to remove him.
But there has been growing speculation of the possibility of a rate cut if the economic outlook takes a turn for the worst.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com