Latest TTI MarketEye Shows Global Electronic Supply Chain Growth Slowing

TTI’s Latest MarketEye Report 

First Quarter Global Electronic Supply Chain Growth 

All of the major companies in our survey have now reported their calendar first quarter 2019 financials:

  • Converted to U.S. dollars total world electronic equipment revenues increased 1.4% calculated at fluctuating currency exchange in 1Q’19 vs. 1Q’18 (Chart 1).
  • Growth has clearly slowed. Chart 2 shows the annualized (12/12) and 3-month (3/12) dollar-denominated global electronic equipment growth from 2001 to present.
  • Chart 3 gives the 1Q’19 vs 1Q’18 US$-denominated growth by sector of the electronic supply chain. Many groups’ sales contracted in the first quarter of 2019.

1Q’19 Passive Components Growth Slowdown and Inventory Buildup

  • After strong growth in 2018 passive component shipments have slowed substantially (Chart 4). Revenues were up 39.9% in 3Q’18/3Q’17, 20.1% 4Q’18/4Q’17 but then were down 0.4% in 1Q’19/1Q’18.
  • As sales slowed passive component inventories rose significantly (Chart 5), reaching their highest level of inventories/sales since mid-2008.

Source: Company financial reports consolidated and analyzed by Custer Consulting Group.

First Quarter PCB Process Equipment, Materials and CCL Laminate Growth

Looking at products that supply the global printed circuit board industry for the first quarter of 2019 vs. 2018

  • Process equipment sales declined 4.5% (Chart 6).
  • Materials other than laminate sales were flat (Chart 7).
  • CCL (rigid and flex) laminate sales declined 6.4% (Chart 8).
  • Chart 9 shows the historical business cycles of these three product groups

Source: Company financial reports consolidated and analyzed by Custer Consulting Group.

 

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