Metal is generally a good conductor of heat, with the result that corrugated metal siding does not insulate well. Furthermore, corrugated metal has a larger surface area than standard siding because of the curves, so you will have more area through which the siding will lose heat. As a result, if anything inside a building with corrugated siding needs to be temperature controlled, you need to insulate corrugated siding.
Because corrugated metal is an effective conductor of heat, remember that anything that needs to be temperature controlled needs to be insulated against heat loss and heat gain. When deciding whether you need to insulate corrugated siding, bear in mind that corrugated metal buildings get very hot when in direct sunlight and very cold in cold weather.
Styrofoam insulation is an umbrella term for a variety of plastic foam-insulation products, ranging from urethane to vinyl. It is light and durable but it will need to be stuck to the corrugated metal in order to insulate it. This requires a special type of epoxy resin that will attach to both metal and plastic, otherwise the insulation will unstick itself from the siding and not work.
Fiberglass insulation will insulate a corrugated siding building well but it also has the problem of needing to be stuck to the corrugated metal in order to work. However, fiberglass has the advantage that it also forms a moisture barrier in addition to being a heat insulator, which will reduce the risk of both rust and moisture damage to the siding because of heating and cooling.