This works well if the room behind the screen is completely dark with only the projector producing light. A light colored material is not what you want as this will hurt your black level. A single layer of dark gray spandex might work but the light absorbed by it might be too much. The material used for this was readily available 10 years ago I don't know about now and in the size you need. If you could find a dark gray shower fabric big enough it would be close to the material made for this purpose.
just found several examples of screens even ready made for $165 on ebay, just search for rear projection screen material
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