You can create a material from the Material Browser dialog.
The recommended method is to duplicate an existing, similar material and then edit the name and other attributes as required. For example, a machinery model could have many steel parts with a dull gray appearance. If one of the parts has a chrome-plated surface, you can create a suitable material by duplicating the steel material and then replacing the gray appearance with a chrome appearance, leaving the physical asset unchanged. If a similar material is not available, you can create a new material from scratch. However, this approach usually requires a bit more editing work, such as adding assets and changing properties.
The new material is created with the same name as the source material, but with a digit appended. The new material opens in the Material Editor panel, and is added to the project materials list in the Material Browser.
The material, named Default New Material, is added to the project materials list in the Material Browser.