A cellular thermoplastic polyolefin foam comprising at least one particulate additive in admixture with a polymer matrix is disclosed, along with a process and foamable gel for manufacturing the same, wherein the polyolefin matrix comprises at least one polymer resin graft-modified with at least one polar group selected from the group consisting of acid, acid ester, and acid anhydride, and salts thereof. The invention facilitates the manufacture of macrocellular foams useful for acoustic absorption having increased amounts of particulate additives that provide certain desired properties difficult to achieve without the particulate additives, such as improved flame retardancy.