Foam or Rubber for outdoor pipe

We replaced our old foam for rubber when the snow came this year. It seems more foam fitting which will provide better insulation compared to foam. Downside was getting it around tight spaces while claiming 18' on a ladder to finish the HVAC line leading into our crawlspace. We used it on that and some outside faucet lines years ago and have not had issues.

I also think it looks much nicer than foam.

I use the rubber pipe insulation from Home Depot.
Their website says it has a slightly better R value (3.2 vs 3.1)