The most common and most likely answer to this crossword clue is the 8 letter word BOBBINET
I've seen this crossword clue in The Guardian
B
O
B
B
I
N
E
T
More clues leading to the result BOBBINET
Buddy explains!

The straight part
We know that "Fine material" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case fine material = bobbinet.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 BOBBINET mean?
BOBBINET noun- A net fabric, with hexagonal mesh, woven by machine.