A composition for saturation of preformed, previously cured foam substrates having an at least partially open cell configuration, includes a polymer binder in which microspheres containing a phase change material are dispersed. Preferred phase change materials include paraffinic hydrocarbons. The microspheres may be microencapsulated. A preferred cured foam substrate is a skived polyurethane or polyether foam of from 20 to 1000 mils in thickness, preferably 20 to 200 mils in thickness, having up to 6 ounces per square yard or more of encapsulated phase change material embedded in a polymer binder. One method of applying the binder with dispersed encapsulated phase change materials is by applying a binder/microsphere dispersion to the upper surface of a previously cured foam sheet with, then drawing a vacuum from the underside of the cured foam sheet to permeate from 20% to 100% of the cured foam sheet with the binder/microsphere dispersion. The resulting product is then cured. An alternative method of applying the binder with embedded encapsulated phase change materials using knife over roll technique to an exposed surface of the skived foam is disclosed in which the most preferred viscosity of the uncured polymer binder is from 7,000 to 9,000 centipoise.