With all the speculation over the foam used on the space shuttle I decided to look up the technical specs on the foam. This is from NASA's Thermal Protection System.PDF
Some interesting facts:
The housing is actually two layers, it the outer layer comprised of "low-density, closed-cell foam" and a "denser composite material called ablator,
made of silicone resins and cork. An
ablator is a material that dissipates heat
by eroding."
The foam is sprayed on the tank.
"The closed-cell foam used on the tank
was developed to keep the propellants
that fuel the Shuttle's three Main Engines
at optimum temperature."
"The foam insulation must also be durable
enough to endure a 180-day stay at the
launch pad, withstand temperatures up to
115 degrees Fahrenheit, humidity as high
as 100 percent, and resist sand, salt, fog,
rain, solar radiation and even fungus."
"Though the foam insulation on the majority
of the tank is only 1-inch thick, it adds
4,823 pounds to the tank's weight.
Insulation on the liquid hydrogen tank is
somewhat thicker -- between 1.5 to 2
inches thick. Though the foam's density
varies with the type, an average density is
about 2.4 pounds per cubic foot."
So I hope this helps answer some of the questions people might have about why the foam is used and exactly what the stuff is made of.