Not sure about the suede??? My guess would be no.
Rockwool is cheaper. $35 for 8-3" 2x4
Get out your reading glasses and GO THRU THIS.
Start here.
Basic acoustic measurement primer v2.1
Check this out.
Listen to the Music, Not the Room
Read all of this.
Acoustics/Treatment Reference Guide - LOOK HERE!
There will be a quiz.
All the best.
-rich