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EPS is hand- and machine-shapeable, although because of the larger cell size, it's not quite as easy to shape as polyurethane foam. The upside of it being accessible to those used to traditional shaping techniques is that it supports the custom-surfboard industry.
EPS foam is the insulation used most widely in insulated concrete forms and structural insulated panels. With the highest average R-value per dollar of the three types of rigid-foam insulation (about 4.6 R per inch), EPS foam costs the least, while meeting or exceeding all required building and energy codes.