A one-way analysis of variance and thermal analysis were performed in this study to examine the influences of the contents, types (exothermic vs. endothermic), and forms (pure vs. masterbatch) of chemical foaming agents (CFAs), as well as the use of coupling agents, on the density reduction (or void fraction) and cell morphology of extrusion-foamed neat high density polyethylene (HDPE) and HDPE/wood-flour composites.