Recent posters and the recent cold weather here prompted me to ask this question. What's the best insulation material & technique for exposed hydronic heat water pipes ??

My house is cape-cod style (it's actually a brick Williamsburg type) with the 2nd floor in the attic.

I recently went exploring the attic after moving in about 20 months ago. The circulating pipes for the baseboard heating for the 2nd floor run around the perimeter of finished space (unfinished on the attic side). The original insulation appear to PAPER constructed in honeycomb/open cell, and about 1-inch thick. On the long runs, the insulation tubes are clamped by metal bands, although the middles are unclamped & exposing a lot of pipe. The bends are insulated by the same material but held by duct tape, and the tape is failing.
Overall, the hot water pipes seem to be heating the attic as much as the interior, finished space.

One of the moderators mentioned polyfoam insulation - the gray foam stuff at Home Despot ?? I'm also thinking plastic tie bands and metal foil tape to secure new insulation. The water tempuratures are, I think, 160 degrees in, and 120 degrees out.

Is removing the old insulation safe (asbestos ??) -- 1964 . . .