Printed circuit board production will decline 20% to $40.5 billion in 2009 because of weaker demand for electronics equipment caused by the global economic downturn, according to a study by trade association IPC.

The world market for PCBs had reached $50.8 billion in 2008, up 1% over 2007. Growth in global board production will resume in 2010 when the market grows to $43.5 billion worldwide.

The value of North American board production is expected to end 2009 at about $3.49 billion, about 15% below 2008, when production totaled $4.1 billion. However, North American board production will climb again in 2010 as production value reaches $3.6 billion, says IPC.

While the board market will decline in 2009, board manufacturers report business is improving as the year progresses. They note the board book-to-bill ratio, which was 0.89 in January, climbed to 1.07 in July. That means board manufacturers received $106 of new business for every $100 in orders they shipped in July.