Many good manufacturer's use "egg-crate" foam. And that works well and is relatively inexpensive. But a better option is "MLV" - Mass Loaded Vinyl. Basically, this is foam with a layer of lead in between. You can get MLV in thin sheets by itself and this is certainly an improvement. But putting the MLV in the middle of the foam increases it's effectiveness greatly. Not so much because of the actual foam (although that does help), but because the MLV is "free" to vibrate whereas if it's tight against fiberglass, some of that vibration will still transmit through. It will still help to stop the actual sound, but not so much the vibration.