Dynamat isn't exactly a lightweight material!
In a car weighing over a tonne, it's not particulary significant.
And neither absorbs sound....
Dynamat is not a mass loaded layer, typical automotive stuff uses foams and vinyl loaded felt to decouple the panels and block sound. Dampeneds work from trying to stop panels generating noise in the first place but that does nothing for engine or tyre airborne noise.
Which is why I asked the OP what he was trying to achieve.
"I don't like noise" tells me naff all

so given that people only care about this kind of thing when they are listening to music, I gave him advice to improve that aspect. With hindsight I really should have just repeated the question until I got an answer - my bad.
If he's actually worried about tyre noise, changing tyres to a lower noise version wil help. The same advice stands, dynamat around the tyre wells will be most effective. Viscoelastic compounds are technically more efficient at low frequency suppression than MLV, that's not to say you can't combine them sucessfully, I just doubt the OP is willing to strip his car to do this.
Dampends work from trying to stop panels generating noise in the first place
How do you think vibration gets from the tyre to the cabin? By vibrating the panel in between, so you dampen that panel to reduce this effect, so I'm not sure why you think the product doesn't have the property of 'absorbing sound', when that is what it was engineered to do, convert vibration into heat.
Sound absorbtion foam is only going to influence sound once it is already inside the cabin space (which is why it is used in studios), so yes it going to have some effect, but it is harder to implement.
If you can find any unbiased opinion that a mass loaded spray is technically better than a viscoelastic compound, I'd be interested in their testing methods.