The most common and most likely answer to this crossword clue is the 4 letter word IKAT
I've seen this crossword clue in The Guardian
I
K
A
T
More clues leading to the result IKAT
Buddy explains!

The straight part
We know that "material" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case material = ikat.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 IKAT mean?
IKAT noun- A style of weaving that uses a process similar to tie-dye to dye the threads.
- A work woven in this style.