There are actually Green, Blue, Red and even a Gray Chromakey materials out there. Green is used most often since the person/item being shot is most likely not going to be wearing a shade of green close to that of the screen so you can then do the fx. There are also PAINTS that can be used to paint a flat wall/material to create the Chromakey look.
As mentioned above the background has to be evenly lit and usually I believe it should be a couple stops different than the subjects lighting.
BTW not all of the Chromakey material is made the same out there, some is a real light synthetic while others are actually cotton or cotton blends and the ability to clean out any stains varies as to the material.
http://www.scenicsource.com/cyclorama.shtml
Sells some cut yardage and you can get some very wide pieces up to 100 yrds long if doing a BIG shoot. (I know the owner of the business and used to help him out on occasion a couple years ago so learned a lot about chromakey materials).