The answer is that the 'best' type of insulation depends on:
No matter what kind of insulation you buy, check the information on the product label to ensure that the product is suitable for the intended application. The Federal Trade Commission has imposed stringent rules on the R-value label on all residential insulation products. These labels must include a clearly stated R-value and information about health, safety, and fire-hazard issues. Take time to read the label BEFORE installing the insulation. Insist that any contractor installing insulation provide the product labels from EACH package (so you will know how many packages were used). Advancements in new materials have resulted in higher R-values with less thickness. Some materials require a greater initial thickness to offset eventual settling or to ensure that you get the rated R-value under a range of temperature conditions.
The Zip-Code Insulation Program (see Additional Resources) provides insulation cost estimates and a rate of return on your investment.
For maximum energy efficiency, when building or remodeling a home, you should consider the interaction between the insulation and other building components, e.g. windows, doors, skylights, space heating & cooling, water heating, air sealing, lighting and daylighting, appliances and home electronics… This whole-house systems approach recognizes that the features of one component in the house can greatly affect other components, which ultimately affects the overall energy efficiency of the house. Benefits of using a whole-house systems approach include:
Source Material: US Dept. of Energy