When comparing Materialize vs Angular Material, the Slant community recommends Materialize for most people. In the question“What are the best frameworks/libraries for implementing material design on the web?” Materialize is ranked 3rd while Angular Material is ranked 7th.
Ranked in these QuestionsQuestion Ranking
Pros

Pro Great-looking demo
Pro Device agnostic
Since Materialize follows Google's guidelines for Material design, which in theory is device agnostic, Materialize itself is device agnostic too. It's designed to look good on every device.

Pro Large selection of components
CSS components: Badges, buttons, cards, collections, footer, forms, icons, navbar, pagination, preloader.
JavaScript components: Collapsible, Dialogs, Dropdown, Media, Modals, Parallax, Pushpin, ScrollFire, Scrollspy, SideNav, Tabs, Transitions, Waves.
Mobile-specific: slide-out drawer menu, toasts.

Pro Responsive

Pro Mobile navigation

Pro Nice showcase of sites built with Materialize
Pro Customizable
While the default style is not bad at all, Materialize also gives developers the ability to customize it and fit their own style, while still keeping in line with the Material Design philosophy.
Along with the CSS files, designers can also download the SASS files which can be edited and compiled.

Pro 12-Column Grid System

Pro Included icon font

Pro Meteor.js integration by developers
Pro Opinionated
Material design is very opinionated on how design elements should behave and look. The basics of which revolve around certain visual elements (physics, space, momentum and light) which are used to create specific UX elements.
This is very helpful because it creates a consistent feel without making every design look the same. This can be seen in Materialize too, where each element may be customized but still it keeps the consistent look of the material design.
Pro Very optimized
Pro Accessibility in mind
Pro Made for Angular
Pro Multiple theme support
Pro Themeable
You can create your own themes using the SCSS toolkit.
Cons

Con Refuses to use the flexbox model
Even though Materialize states that it only supports IE10+, which supports flexbox quite well, with prefixes, Materialize has refused to use Flexbox.
Con Not maintained anymore

Con Large / heavy
267 kilobytes, minified, for the CSS and JS.
Con Deprecated
No longer supported by their maintainers.
Con Latest versions docs are incomplete
The previous version had nice docs. The new one has almost nothing. And the library has changed wildly so the old docs are no use.
Con Not that customizable
The use of the library can be very hard for beginners, but it gets very good when you know the features.
