UPDATE
I got some WD40 Silicone Spray on Saturday and sprayed it into either side of the plastic causing the squeaking. Could not insert spray nozzle into the material as much as I wanted to, but the area was well coated and after drying off for a day, it seems like it has done the trick. Fabric still a little darker looking after the spray and has a faint smell, but I can live with that if the squeak stays away!
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