The most common and most likely answer to this crossword clue is the 5 letter word TAPPA
T
A
P
P
A
Buddy explains!

The straight part
We know that "material for paper" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case material for paper = tappa.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TAPPA mean?
TAPPA noun- A kind of cloth prepared by the Polynesians from the inner bark of the paper mulberry.
- Any appetizer or snack served in the evening as part of tapas.
- Seasoned slices of dried or cured meat in Filipino cuisine.