Essentially a compressed sheet of “packing peanuts,” expanded polystyrene (EPS) offers the lowest R-value of foam insulation types. R-value refers to the relative heat transfer of a material; the lower the value the less the material prevents heat from escaping or infiltrating through the material. EPS is relatively inexpensive and builders often choose it for commercial structures. Although EPS is safe for residential insulation, direct contact, such as during installation, causes skin, eye and respiratory irritation in some individuals.
There was nothing compressed about these packing peanuts. They were just the same form as they would be when you opened them up in a shipping box. I don’t see how they would have much if any R value.