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North American PCB Industry Sales Up 21.4% in May
June 20, 2025 | IPCEstimated reading time: 2 minutes
IPC announced the May 2025 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 1.03.
Total North American PCB shipments in May 2025 were up 21.4 percent compared to the same month last year. Compared to the preceding month, May shipments were up 7.1 percent. May's year-to-date (YTD) shipments increased by 7.9% year-over-year (YOY).
PCB bookings in May were up 9.5 percent compared to the same month last year. May bookings were down 12.9 percent compared to the preceding month. May’s YTD bookings increased 18.3% compared to the same period last year.
“North American PCB shipments continued their upward trajectory in May, reflecting strong demand and improving supply chain dynamics. While bookings slowed from the previous month, indicating some near-term cooling in new orders, year-over-year growth remains solid. Demand is largely keeping pace with supply, pointing to a stable near-term outlook,” said Shawn DuBravac, IPC’s chief economist.
Detailed Data Available
Companies that participate in IPC’s North American PCB Statistical Program have access to detailed findings on rigid PCB and flexible circuit sales and orders, including separate rigid and flex book-to-bill ratios, growth trends by product types and company size tiers, demand for prototypes, sales growth to military and medical markets, and other timely data.
Interpreting the Data
The book-to-bill ratios are calculated by dividing the value of orders booked over the past three months by the value of sales billed during the same period from companies in IPC’s survey sample. A ratio of more than 1.00 suggests that current demand is ahead of supply, which is a positive indicator for sales growth over the next three to twelve months. A ratio of less than 1.00 indicates the reverse.
Year-on-year and year-to-date growth rates provide the most meaningful view of industry growth. Month-to-month comparisons should be made with caution as they reflect seasonal effects and short-term volatility. Because bookings tend to be more volatile than shipments, changes in the book-to-bill ratios from month to month might not be significant unless a trend of more than three consecutive months is apparent. It is also important to consider changes in both bookings and shipments to understand what is driving changes in the book-to-bill ratio.
IPC’s monthly PCB industry statistics are based on data provided by a representative sample of both rigid PCB and flexible circuit manufacturers selling in the USA and Canada. IPC publishes the PCB book-to-bill ratio by the end of each month.
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
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Nvidia’s PCB Vendor Victory Giant Plans to Raise Funds in Hong Kong IPO
08/07/2025 | I-Connect007 Editorial TeamNvidia supplier Victory Giant Technology, based in Huizhou, Guangdong, China, released plans at the end of July for a Hong Kong share offering. The move came after regulators eased fundraising rules to support high-tech companies, the South China Morning Post reported.
Kaynes Circuits to Invest $570 Million in PCB Tech India’s Tamil Nadu State
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Global Excellence in PCB Design: The Global Electronics Association Expands to Italy
08/07/2025 | Global Electronics AssociationIn today's rapidly evolving electronics industry, printed circuit boards (PCBs) serve as the critical backbone influencing the success, reliability, and time-to-market of countless products. Recognizing this essential role, the Global Electronics Association (formerly IPC), a worldwide leader in electronics standards, certification, and education, is now expanding its internationally acclaimed PCB design training to Italy.