Yes, aluminum strips can be used for exterior wall insulation, but they are typically used as a vapor barrier or as part of a metal stud framing system rather than as an insulating material themselves. Aluminum is a good conductor of heat, so it's not an insulator. Instead, it's often used to create a barrier against moisture and air infiltration. For insulation, materials like fiberglass, cellulose, or foam are more appropriate. Aluminum strips can help secure insulation boards in place and provide a base for attaching exterior finishes.