September Slump, North America’s PCB Market Dips

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With shipments down 24.1% YoY and bookings declining, North America’s PCB market struggled in September 2024. Despite a positive book-to-bill ratio, demand signals a slowdown.

September 2024 turned out to be a difficult period for North America’s printed circuit board (PCB) market. According to the data published by IPC’s North American PCB Statistical Programme, the PCB shipments in September were down 24.1% year-over-year (YoY) and 23.8% compared to August in the region. PCB bookings also declined, falling 4.4% YoY and 2.8% MoM.

According to Shawn DuBravac, IPC’s chief economist, “The decline is primarily driven by a steep decline in shipments that outpaced a drop in orders. Year-to-date trends highlight a negative trajectory in shipments alongside a narrowly positive trend in orders.”

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PCB sales and orders in North America have experienced significant volatility over the past year. Shipments have been marked by continuous fluctuations, with a brief 9.4% YoY increase in April 2024, followed by a strong 35.2% YoY rise in August after a sharp 21.2% decline in July. However, the trend turned negative once again in September.

Bookings followed a similar pattern, experiencing a steep 25.4% YoY decline in July 2024 before rebounding with a robust 42.6% increase in August. However, September marked a return to a cooling market, with more months of contraction than growth, potentially signalling a slowdown in demand.

The book-to-bill ratio indicates supply-demand balance, with ratios above 1.00 suggesting future sales growth. This stood at 1.08 in September.

DuBravac highlighted, “The North American PCB book-to-bill rose notably in September, but this rise masks overall weakness in the sector.”

IPC’s North American PCB Statistical Programme offers detailed insights into rigid PCB and flexible circuit sales, including book-to-bill ratios, growth trends by product type and company size, and demand in specific markets like military and medical.

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Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.
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