North American PCB Industry Ends 2025 with Strong Book-to-Bill and Double-Digit Shipment Growth

The Global Electronics Association releases PCB industry results for December 2025

The Global Electronics Association announced today the December 2025 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 1.18.

Total North American PCB shipments in December 2025were up 11.0% compared to the same month last year. Compared to the preceding month, December shipments were down -12.8%. December's year-to-date (YTD) shipments increased by 12.8% year-over-year (YOY).

PCB bookings in December were up 11.0% compared to the same month last year. December bookings were down 17.7% compared to the preceding month. December’s YTD bookings increased 15.0% compared to the same period last year.

North American PCB activity for December reflects a well-balanced market showing healthy momentum. Bookings outpaced shipments for the month, which may signal emerging demand growth; however, the longer-term three-month and year-to-date metrics temper that optimism. Over those periods, shipments have grown faster than bookings, suggesting the industry is likely catching up on backlog and shipping more aggressively to meet existing demand. The growth story remains intact but sustaining it will require bookings to accelerate rather than rely solely on fulfillment of past orders.\

"The North American PCB book-to-bill strengthened again in December, due in part to softer shipments,” said Dr. Shawn DuBravac, Global Electronics Association’s chief economist. “Bookings remain solid, signaling improving order momentum headed into this year.”

3-Month Book-to-Bill

1-Month Book-to-Bill

Shipments 3-Month MA

Bookings 3-Month MA

Shipments YTD

Bookings YTD

1.18

1.15

-1.1%

4.7%

12.8%

15.0%

Detailed Data Available

Companies that participate in the Global Electronics Association’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 the Global Electronics Association’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 12 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.

 

The Global Electronics Association’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. The Association publishes the PCB book-to-bill ratio by the end of each month.

Unlock Breakthrough Electronics Innovation at the APEX EXPO 2026 Technical Conference

Electronics engineers, technologists, and industry leaders have a strategic advantage at this year’s Advanced Electronic Packaging Conference, the premier technical conference at APEX EXPO 2026, where 80+ original technical papers, cutting-edge insights, and peer-reviewed research converge to accelerate product performance, solve manufacturing challenges, and drive competitive differentiation. This year’s conference opens on Monday, March 16 and runs through Thursday, March 19. 

What’s in it for attendees:
Immediate technical value: Industry thought leaders will present practical data, new methods, and unpublished results across advanced packaging, PCB fabrication, reliability, sustainability, AI and automation, materials, and next-gen assembly technologies. 
• Career and business impact: Participants will gain insights they can apply directly to design, manufacturing, test, and production strategies to improve yields, reliability and time to market. 
• Expanded networking: Connect with global innovators, peers, technology suppliers, and standards leaders.

Conference highlights:
Opening session technical keynotes: From Silicon to Systems: Advanced Electronic Packaging for Next-Gen Compute — a forward-looking primer from Dr. David Lokken-Toyli, Principal Research Scientist, IBM, on how packaging and surface mount technologies are scaling to meet the demands of heterogeneous integration, quantum systems and next-generation compute platforms. Advanced Packaging: A Crucial Enabler for Heterogeneous Integration  from Dr. Ravi Mahajan, Intel Fellow & Director of Assembly and Packaging Technology Pathfinding, focuses on advanced packaging as a key enabler of heterogeneous integration.
80+ technical paper presentations: Covering electrical and thermal design, plating and surface finishes, SMT processes, power electronics, metrology, quality and reliability, sustainability, factory automation and more. 
• Two special sessions: Focused discussions on aerospace/defense electronics and automotive/electric vehicle packaging challenges.

“APEX EXPO’s Advanced Electronic Packaging Conference delivers the actionable insights and technical depth that engineers and technologists need to innovate with confidence and impact,” said Matt Kelly, CTO and vice president, standards and technology solutions and APEX EXPO conference general chair. “This year’s program spans the most critical topics shaping tomorrow’s electronics — from component-level and system-level integration to sustainability and automation — and represents a powerful opportunity to elevate your work and your business.”

Event Details:
• Dates: March 16–19, 2026 
• Venue: Anaheim Convention Center, Anaheim, California. 
• Registration: Available now at www.apexexpo.org/2026-registration-options.

India’s Electronics Manufacturing Ecosystem Gears Up for IEMI 2026

Join the Forum January 29–30 in Bengaluru Connecting Industry and Government and Advancing Electronics Manufacturing in South Asia

India continues its acceleration as a global electronics manufacturing hub. At the heart of this momentum is Integrated Electronics Manufacturing & Interconnections (IEMI) 2026, the flagship industry platform of the Global Electronics Association. IEMI 2026 will convene the electronics manufacturing ecosystem for two days of high-impact dialogue, collaboration, and business engagement. 

 

With 1,500+ business delegates registered from India and 100+ international delegates expected from Southeast Asia, Japan, the Middle East & Africa, Europe, the UK, and the USA, IEMI 2026 is emerging as one of South Asia’s most consequential platforms for strengthening manufacturing partnerships, advancing supply-chain resilience, and driving quality-led growth. 

 

A Platform Designed for Manufacturing Outcomes 

IEMI 2026 brings together OEMs, EMS companies, PCB manufacturers, cable & wire harness specialists, semiconductor companies, and electronics equipment suppliers, enabling structured engagement across consumer electronics, electric vehicles, defence and aerospace, and high-reliability manufacturing. 

 

The program is built around sector-driven discussions supported by leading industry and government bodies, addressing priority areas across the electronics value chain, including:  

  • Defence & Aerospace Forum, supported by the Directorate General of Quality Assurance (DGQA), Ministry of Defence, Government of India 

  • Consumer & Mobile Electronics Forum, supported by the India Cellular & Electronics Association 

  • India–ASEAN EV Meet, supported by the ASEAN EV Federation 

  • Defence Supply Chain Resilience Forum, supported by leading defence OEMs 

 

Business Engagement at the Core 

IEMI is an action-oriented industry platform, featuring: 

  • Customized B2B matchmaking connecting Indian manufacturers with international delegations 

  • A focused exhibition showcasing Indian and global solution providers 

  • Electronics Supplier’s Meet and Member Awards 

  • Curated networking luncheon and dinner enabling meaningful business conversations 

 

The two-day agenda includes: 

  • Keynote addresses by Indian and international industry leaders 

  • Technical presentations on Advanced Electronic Packaging 

  • A focused session on the IPC/WHMA-A-620 Addendum for Space & Military applications 

  • Panel discussions on emerging manufacturing and supply-chain priorities 

  • The Global Wire Harness Competition, highlighting skill excellence and workforce readiness 

  • Release of a Consumer Electronics & Mobile Manufacturing Industry report, highlighting quality and reliability challenges, workforce skill gaps, and recommendations to strengthen manufacturing performance 

  • An outline of a collaborative initiative between the Global Electronics Association and DGQA, focused on strengthening defence electronics frameworks through best-practice adoption, standards alignment, and capability building, aligned with India’s Atmanirbhar Bharat mission  

 

“India is rapidly strengthening its position in the global electronics value chain. IEMI 2026 is designed to move beyond discussion creating a platform where global and regional stakeholders can engage meaningfully, build partnerships, and advance manufacturing excellence,” said Gaurab Majumdar, Vice President – India & Southeast Asia, Global Electronics Association. 

 

For more information, visit: www.electronics.org/india-iemi.

 

Global Electronics Association Appoints Raj Tiwari as County Manager to Advance Thailand's Electronics Manufacturing Ecosystem

To further reinforce its engagement in Thailand, the Global Electronics Association has appointed Raj Tiwari as Country Manager – Thailand. 

 

Tiwari brings extensive experience working with electronics manufacturers and industrial stakeholders, with a strong focus on industry engagement, business development, and technical collaboration. In his role, he will lead the Association’s activities in Thailand, working closely with manufacturers, suppliers, and ecosystem partners to expand training and certification programs, strengthen standards adoption, and support workforce upskilling aligned with global electronics manufacturing requirements. 

 

“Thailand plays a critical role in the regional and global electronics manufacturing landscape,” said Gaurab Majumdar, Vice President – Southeast Asia, Global Electronics Association. “As manufacturers respond to rising quality expectations and increasingly complex technologies, globally aligned standards and a skilled workforce are essential. Raj’s appointment strengthens our leadership presence in Thailand and supports our continued collaboration with industry, government, and academia.” 

 

Thailand continues to be one of Southeast Asia’s most important electronics manufacturing hubs, with strong capabilities across automotive electronics, industrial electronics, electrical equipment, and high-reliability manufacturing. As global supply chains diversify and manufacturers expand operations across ASEAN, Thailand’s role in regional and global electronics production continues to grow. 

 

Thailand’s electrical and electronics sector is one of the country’s largest and most strategically important manufacturing industries, accounting for a significant share of national exports. According to official trade data, Thailand’s exports of electrical and electronic equipment exceeded USD 50 billion in recent years, underscoring the sector’s scale and global integration. Continued government support, investment incentives, and supply-chain diversification initiatives are further strengthening Thailand’s position as a key electronics manufacturing and export hub within ASEAN, particularly across automotive electronics, industrial electronics, and high-reliability manufacturing segments. 

 

As product complexity, reliability expectations, and regulatory requirements increase, manufacturers are placing greater emphasis on process discipline, workforce competency, and alignment with globally recognized electronics manufacturing standards. The Global Electronics Association has been actively supporting Thailand’s electronics ecosystem through standards adoption, industry-aligned certification programs, and technical education initiatives aimed at strengthening manufacturing quality and global competitiveness. 

 

In Thailand, the Association will continue to focus on workforce development, standards-based manufacturing excellence, and industry-aligned certification, supporting companies in meeting international quality, reliability, and compliance benchmarks while enhancing productivity and export readiness. 

 

The Association supports the global electronics industry through the development of international standards, certification programs, education, and industry collaboration, supporting manufacturers across Asia and worldwide. Raj Tiwari can be reached at RajTiwari@electronics.org.  

 

For more information on the Global Electronics Association’s activities in Thailand, visitwww.electronics.org/india-southeast-asia

New IPC-6921 Standard Sets Requirements and Acceptance Criteria for Organic IC Substrates

Global community of 246 technical specialists develops unified specifications for advanced packaging; core technical requirements to be addressed in Feb. 5 webinar

The Global Electronics Association has officially released IPC-6921, Requirements and Acceptance for Organic IC Substrates.

This IPC standard clearly defines product qualification, performance requirements, and acceptance criteria for organic integrated circuit (IC) substrates, providing a unified and internationally referenceable technical specification for the packaging industry across key application areas such as artificial intelligence (AI), high-performance computing (HPC), and automotive electronics.

Three Years of Global Technical Collaboration  
The IPC-6921 task group, established in 2022, was co-chaired by Greatech Substrates Co., Ltd. and Lockheed Martin Space Systems staff who guided the technical direction and development of the standard.

The group brought together 246 technical experts from across the global IC substrate value chain, including representatives from AT&S, Amkor, JCET, SanDisk, and other leading organizations.

Participants included original equipment manufacturers (OEMs), outsourced semiconductor assembly and test providers (OSATs), IC substrate manufacturers, material suppliers, third-party test laboratories, and research institutions. Over three years, the task group completed multiple rounds of technical review and industry consultation, reflecting broad international participation.

Scope and Acceptance Criteria
IPC-6921 covers two primary organic IC substrate types: wire-bonding substrates and flip-chip substrates. The standard defines requirements and acceptance criteria across design, manufacturing, quality control, and reliability.

For visual inspection, IPC-6921 provides extensive photographic examples illustrating target conditions, acceptable conditions, and defect conditions observable on internal and external substrate features. Acceptance criteria distinguish critical functional areas, recognizing that identical anomalies may have different acceptance requirements depending on location.

Key functional areas include strip side rails, base material areas, solder mask regions, wire-bond pads, surface mount (SMT) pads, ball grid array (BGA) pads, die-attach areas, C4 bumps, acoustic holes, fiducial marks, and molding gate regions.

Performance and Reliability Requirements
IPC-6921 establishes requirements for critical technical characteristics, including:
•    Surface finish and plating/coating
•    Dimensional tolerances across substrate features
•    Conductor, via, and structural integrity quality
•    Electrical, mechanical, and environmental reliability
•    Acceptance test frequency and quality conformance

These requirements guide the design and manufacture of organic IC substrates for high-density and high-reliability applications, including HPC, AI, data centers, and automotive electronics.

Supporting Advanced Packaging Adoption
With rapid growth in AI, 5G/6G communications, and electric vehicles, demand for advanced semiconductor packaging continues to accelerate.

Sydney Xiao, president of Global Electronics Association East Asia stated, “Organic IC substrates are the critical interface between chips and systems, and their quality and reliability directly impact end-product performance. By establishing unified technical understanding and acceptance criteria, IPC-6921 provides an essential foundation for scalable adoption of advanced packaging technologies.”

Upcoming Webinar
To support industry understanding of IPC-6921, Global Electronics Association IPC China will host a webinar on February 5, 2026, titled: “IPC-6921: Requirements and Acceptance for Organic IC Substrates.” The webinar will cover the standard framework, core technical requirements, and typical acceptance scenarios, with interactive discussion on key industry concerns. For more information, visit: www.ipc.org.cn/webinar.