Four air‐bubbled polyurethane (PU) foams with different polyol:PMDI wt.% are produced, respectively. The chemical reaction mechanisms of polyurethane and bubble formation are proposed by performing standard Gibbs free energy calculations using the DFT M06‐2X/6‐31+G(d,p) method. The local minima, transition states, and intermediates in reaction mechanisms are detected. It is concluded that both reactions are exothermic. Then, raw images of the produced PU foams are taken with a 13 MP mobile phone camera, which can be considered inexpensive, and the mean radii of the pores are calculated by an image processing based method (IPBM) on a standard desktop computer with an i5 processor. It is determined that there is a close relationship between the calculated mean radius and instrumentally measured thermal conductivity coefficient of the foams. However, the thermal conductivity coefficients are independent of the calculated number and percentage of the pores. The mean radii of the samples calculated by the proposed IPBM are close to that of the SEM, with acceptable relative errors of less than 10%. Finally, it is concluded that IPBM, which is a more cost‐effective, cleaner, and faster method than SEM, might replace SEM in the air bubble analysis of PU foams.