Guy with no new material (5)

I believe the answer is:

rayon

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'material' is the definition.
(rayon is a kind of material)

'guy with no new' is the wordplay.
'guy with' becomes 'ray' (I can't explain this - if you can you should believe this answer much more).
'no' becomes 'O' (resembles 0 - 'no' can mean 'zero').
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'ray'+'o'+'n'='RAYON'

Can you help me to learn more?

(Other definitions for rayon that I've seen before include "Cellulose fabric" , "Viscose fibre" , "Silklike material" , "Synthetic silk-like fabric" , "Man-made fibre" .)

I've seen this clue in The Mirror.

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