The thickness change of extruded low density polyethylene (LDPE) foam as a function of the blowing agent and aircounter diffusion during the post-extrusion aging process is modeled. The blowing agent and air counter diffusion equations are coupled with the viscoelastic equations to model the foam volume shrinkage and recovery processes in a closed-cell LDPE foam. The variables studied include polymer elastic and viscous constants, foam sheet thickness, cell count and foam density. The mathematical model is also compared with experimental data.