As an Engineer for Air Cond industry for 5 years. My understanding on this material is use for thermal insulation only. We don't rely on close cell foam to do any kind of acoustic insulation. But doesn't means it don't have acoustic reduction properties, just not as good as others material.

For proper acoustic insulation, either go for a more expansive open cell foam or high density rockwool.

Noise absorption is mainly depends on the material and open area that contact with the sound. Close cell structure have too little free area if compare to open cell.

Just my 2 cents.