The factors which should be considered while selecting the material for a machine component are as follows:

1. Availability: The material should be the readily available in the market to meet the requirement. eg., Cast iron and aluminium alloys are always available while there is always a shortage of lead and copper.

2. Cost: The cost of material and the cost of processing the material into finished goods are two important factors in cost analysis. So the designer has the cost limitation beyond which he can't go. When the limit exceeds, the designer has to consider other alternative materials. The cost of the material might be low, but its processing may involve costly manufacturing processes.

3. Mechanical properties: Material properties include strength under static and fluctuating loads, elasticity, plasticity, stiffness, toughness, resilience, ductility, malleability, brittleness, and hardness. Depending upon the service conditions and the functional requirements, different mechanical properties are considered and a suitable material is selected. E.g., for bearing materials low co-efficient of friction is desirable while for clutch or break linings require high co-efficient of friction.

4. Manufacturing consideration: Machinability of material is an important consideration in selection of material. Sometimes costly material is more economical than a low priced one, which is difficult to machine. The manufacturing process, such as casting, forging, extrusion, welding and machining governs the selection of material.