IPC announced today the April 2025 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 1.21.

Total North American PCB shipments in April 2025 were down 6.8% compared to the same month last year. However, compared to the preceding month, April shipments were up 11.5% and April's year-to-date (YTD) shipments increased by 4.6% year-over-year (YOY).

PCB bookings in April were up 23.5% compared to the same month last year. April bookings were up 26.9% compared to the preceding month. April’s YTD bookings increased 20.5% to the same period last year.

“The North American PCB sector saw a big lift in April bookings, suggesting strong momentum as we head into mid-year production cycles and underscoring continued strength in demand,” 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 12 months. 

Year-over-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.

IPC announced today the April 2025 findings from its North American Electronics Manufacturing Services (EMS) Statistical Program. The book-to-bill ratio stands at 1.41.

Total North American EMS shipments in April 2025 were up 0.2 percent compared to the same month last year. Compared to the preceding month, April shipments were down 1.4%. April’s year-to-date (YTD) shipments decreased by 0.2% year-over-year (YOY).

EMS bookings in April decreased 10% year-over-year and decreased 7.7% from the previous month. April’s YTD bookings decreased slightly (by .02%) compared to the same period last year.

“The pullback in April orders may reflect a recalibration of expectations around tariffs,” said Shawn DuBravac, IPC’s chief economist. “The strong book-to-bill ratio for the North American EMS sector was partly driven by weak shipments, as fulfillment continues to lag demand.”

Detailed Data Available

Companies that participate in IPC’s North American EMS Statistical Program have access to detailed findings on EMS sales growth by type of production and company size tier, order growth and backlogs by company size tier, vertical market growth, the EMS book-to-bill ratio, 3-month and 12-month sales outlooks, 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-over-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 EMS industry statistics are based on data provided by a representative sample of assembly equipment manufacturers selling in the USA and Canada. IPC publishes the EMS book-to-bill ratio by the end of each month.

STATEMENT: IPC, the global electronics association serving more than 1,400 U.S. companies and over 3,200 worldwide, strongly supports the bipartisan reintroduction of the Protecting Circuit Boards and Substrates (PCBS) Act in the 119th Congress. Championed by Rep. Blake Moore (R-UT) and a new lead co-sponsor Rep. Raja Krishnamoorthi (D-IL), the bill targets a critical vulnerability in the U.S. electronics supply chain by:

• Authorizing $3 billion in federal investments for domestic PCB and IC substrate production and,
• Establishing a 25% tax credit for companies that source U.S.-made PCBs and substrates

“The PCBS Act addresses a critical and long-overlooked weakness in America’s electronics supply chain,” said John W. Mitchell, IPC President and CEO. “Every electronic device relies on PCBs and substrates, but the U.S. no longer has the capabilities or capacity to meet current demand, much less address future technology requirements. This bill is a vital step toward rebuilding the nation’s ability to manufacture electronics from silicon to systems—an essential foundation for innovation, security, and economic strength.”

IPC is now accepting abstracts for technical papers with presentations, posters, and professional development courses at IPC APEX EXPO 2026. The technical conference, reimagined and renamed to Advanced Electronic Packaging Conference 2026 Component- to System-Level Integration, will be held March 17-19 and professional development courses will take place March 15-16 and 19, 2026, at the Anaheim Convention Center in Anaheim, Calif.

“While the format and scope of the conference are being transformed, the core technical content our industry relies on is not only being preserved—it’s being expanded to better reflect today’s comprehensive component-to-system-level view,” said Stanton Rak, Ph.D., co-chair of the IPC APEX EXPO Technical Conference Program Committee. “We’re strongly encouraging technologists interested in presenting to provide an early indication of interest, by July 31. Doing so, could put prospective speakers in a lead position for session slots,” added Dr. Rak. Individuals can readily communicate their early indication of interest using the abstract submission portal.” 

As the industry’s premier conference and exhibition for the electronics industry, IPC APEX EXPO provides presenters and their companies with a notable and cost-effective opportunity to promote their expertise and gain visibility with key engineers, managers, and executives from all segments of the industry worldwide. Topics for technical conference papers, technical posters and professional development courses include: design and simulation; materials; advanced PCB fabrication; assembly, test and manufacturing; quality, reliability and metrology; digital manufacturing; and sustainability. 

Technical Conference and Poster Submissions

For technical conference paper presentations and posters, IPC seeks abstracts that describe significant results from research experiments, highlight new techniques or materials, and/or discuss cutting-edge trends and challenges facing the electronics manufacturing industry. All submissions must be non-commercial, summarizing original and previously unpublished work covering case histories, research, and discoveries. Papers will be published in a proceedings document, and both paper and poster presentations will be delivered in person at IPC APEX EXPO 2026 in Anaheim. Deadline for early indication of interest is July 31, 2025; with technical paper abstracts due September 12, 2025.                                        

All posters will be displayed on the exhibit floor, with dedicated poster networking sessions for increased visibility. Authors of posters selected for the conference will receive further guidance on formatting, printing, and displaying posters. The deadline for technical poster abstracts is December 1, 2025. 

To recognize exceptional achievement, the TPC will select the top qualifying papers and one top poster for awards. Awards include “Best of Conference,” “NextGen Best Paper,” “Best Student Research Paper,” and “Best Technical Poster.”

Professional Development Submissions

For professional development courses, IPC seeks abstracts for three-hour sessions of live instruction covering all aspects of electronics manufacturing. Courses can be offered as one 3-hour session or two 3-hour sessions (offered as Part 1 & Part 2 for a total of 6 hours). Honoraria and travel expense stipends are offered to professional development instructors. Professional development course abstracts are due September 19, 2025.

To submit an abstract, visit www.ipcapexexpo.org/event-info/call-participation. For more information on IPC APEX EXPO 2026, visit www.ipcapexexpo.org.