well, carpet padding is more like insulation than deadening.
Deadening just basically adds mass to a panel, which stops resonances and makes it more like a wall - reflects outside sound back outside, and inside sound back inside.
Insulation actually absorbs sound. Applying it to something wont really lower any resonances, but if you put it between 2 pieces that rattle against each other it will stop the rattle just by keeping them apart. The big thing that it will do is lower echoes and reflections by absorbing the sound. It will also keep outside sounds from coming inside, and inside sounds from going out.