BANNOCKBURN, IL – Though overall industry sentiment is upbeat, around 58% of the respondents to IPC’s monthly Global Sentiment of the Electronics Supply Chain Report expect to raise prices in 2023, with an average of an 8% increase.

According to the March report, the last month delivered another month of stable industry sentiment, with demand appearing to remain intact, production holding steady and some receding labor challenges. Among other data, survey results show:

• Labor costs, orders, customer inventory, backlogs, and ease of recruitment is expected to remain relatively stable.
• Backlogs are rising more so in North America when compared to both Europe and APAC.
• Nearly two-fifths (38 percent) of firms in North America indicate backlogs are on the rise, while a significantly lower 8 percent of European firms and 14 percent of those in APAC are experiencing a current increase.
• Material costs are declining at a faster pace among manufacturers in Europe vs. those in North America.
• While 11 percent of firms in Europe indicate material costs are currently declining, 0 percent of firms in North America are presently reporting a decrease.
• The majority of manufacturers indicate less than 10 percent of 2022 revenue growth was attributable to pricing impacts, which holds true for manufactures in North America, Europe, and APAC.

For the report, IPC surveyed hundreds of companies from around the world, including a wide range of company sizes representing the full electronics manufacturing value chain. View the full report here.