Centrifugal atomization by the rotating electrode process enables the production of powders with perfectly spherical particles. In this article, the history of centrifugal atomization and the selected recent innovations in this particle processing technology are discussed. Numerous materials and applications directly benefitting from this process are highlighted. Traditionally, this has included the alloys of titanium, tungsten, molybdenum and other metals, which continue to be widely applied in high technologies. More up-and-coming materials discussed include uranium-based fuels for nuclear fission reactors, neutron multipliers for fusion reactors, and magnetocaloric materials for converting gaseous into liquid hydrogen. In addition to the review of materials obtained for these distinct applications using the rotating electrode process, the fundamental principles governing the mechanism of formation of spherical particles constituting such materials are elaborated. Key limitations of the method are also discussed alongside the present and future directions for innovation inspired by the desire to solve them.