Application Specific Integrated Circuit (ASIC) is a very broad definition and excludes only general-purpose processing, memory chips and circuits built using the standard building block chips. ASIC technology is cost effective that meets the challenges of today's complex designs. The physical design tradeoffs for ASIC technologies are discussed. The tradeoffs for ASICs include tradeoffs between ASIC technologies and the physical design tradeoffs. The focus is on the physical design tradeoffs for ASICs, but, as technology tradeoffs and physical design tradeoffs go hand-in-hand, the tradeoffs between ASIC technologies are briefly discussed.>