Foam
Foam comes in various thickness and material compositions
Insulation Foam
Advantages:
Inexpensive
Easy to cut through
Disadvantages:
Foam is soft and easily shows marks made by the router bit
Will have manufacture defects
Not created for crafting, so there will be 1" score marks in the foam for insulation
More clean up needed
Can easily warp
Summary:
The inexpensive material is great for prototypes and quick models. It is not recommended to use the material for any final or finished models.
Polystyrene Foam
Advantages:
Easy to cut through
High structural integrity
Comes in multiple thicknesses
Less clean up needed
Disadvantages:
Has specific requirements for finishing
Harder to obtain in retail stores
Moderately priced
Summary:
The material is great for final and finished models. There is a higher chance that the material can only be obtain from online hobby stores, so factor in time and costs when using this material. It requires delicate sanding, if needed, and can only be painted with water-based or acrylic-base paint.
High Density Urethane Foam
(HDU Foam)
Advantages:
Easy to cut through
Extremely high structural integrity
Comes in multiple densities, thicknesses, and colors
Less clean up needed
Disadvantages:
Has specific requirements for finishing
Sourced from the manufacture
More than $100 per 24"x48" sheet
Summary:
The material is great for final and finished models. Harder to obtain since the material is sourced from the manufacture, so factor in time and costs when using this material. It requires delicate sanding, if needed, and can only be painted with water-based or acrylic-base paint.
Advantages to using Foam
As compared to MDF, plywood it has a quick machining time
Comes in various thicknesses to accommodate large and small scale projects
You can paint for the finish you desire
Foam can be cut in any shape to suit your design
Foam does not shrink
Foam is available in different thicknesses to suit your design needs
You can combine multiple pieces easily with a light spray adhesive
Foam is much softer to cut meaning it produces less strain on the machines
Disadvantages to using Foam
It may warp or bend if it is cut too thin
Bruises and nicks easily
Harder to finish and will take some time to clean up the model