One of the common sheathing materials is Vectra polypropylene. Looks a lot like fiberglass except up close. It is more abrasion resistant than glass and less than Dynel and much less than Xynole. A bit thicker than 10oz glass but only about 6-7% heavier than 10oz glass with 3 coats of epoxy, so not really a sponge. Epoxy does not stick to polypropylene as well as the other two synthetics but does so well enough for a sheathing material in my experience. I've use it on rudders and boat bottoms to good effect but prefer Xynole.
I have no idea what the characteristics of awning material are relative to Vectra. Unless you are willing to test it, why not just stick with the proven sheaths offered by suppliers to boat builders? I've tested a number of other synthetics but see no reason to use them rather than the ones I listed other than biaxial non woven glass when stiffness and strength trumps the extra weight of that material..