Space blankets, also known as emergency blankets, are made of a material similar to tinsel. Aluminum is deposited into the plastic during the creation process, that gives it the incredible reflective property. It is so reflective about 80 percent of light it reflect
https://www.youtube.com/watch?v=xEIB2REMKuo
This is important for engineering because it allows us to have food or people in space with less fear of the ship over heat. Also with out the space blanket the space station would probably not function any more.
For more info go to https://adventure.howstuffworks.com/survival/gear/space-blanket2.htm
https://spinoff.nasa.gov/Spinoff2006/ch_9.html