It appears to be a kind of bubbly polyethelyne sandwiched between foil facings. For the reflective element to work I think you need an air gap. If you place the foil in direct contact with the van sides then it will presumably just conduct the heat really well (foil/metal being very good at conducting heat). So it will just be the foam core acting to insulate. If you do leave an air gap - you may get issues with interstitial condensation on the inner side of the van panels due to the air circulation within the gap.
I've not had any experience of soft materials such as sheeps wool but I understand that they can slump over time (when placed in vertical areas) due to self weight and vibration, so you may need to repack the insulation from time to time.
Just to caveat though - i'm still only building my first, so a chunk of the above is based on research rather than first hand experience.
May be of use when comparing materials. Rigid insulation such as celotex/kingspan is urethene foam I think. Also note that Salmon has been included for reasons that i'm struggling to understand for now...
Thermal Conductivity of some common Materials and Gases