A technology readiness assessment has been carried out on materials under development within the EUROfusion materials work package (WPMAT). This covers materials for structural, high heat flux and functional applications (breeder materials and coatings are not covered). The baseline materials have been assigned Material Technology Readiness Levels (MTRLs) of 4 (EUROFER97), 3 (conventional tungsten) and 4 (Copper-Chromium-Zirconium). In addition, a further 29 developmental materials (and groups of materials) were also assessed. These were generally assigned MTRLs in the range of 2-3. This process has highlighted the wide range of materials currently under development within WPMAT, but also drawn attention to the relatively low technology readiness of many of them. Much of this concerns a lack of data under irradiated conditions, insufficient evidence of industrial production, limited development of joining techniques etc. While this is clearly a source of risk to the development of DEMO, the introduction of a biennial review of technology readiness within WPMAT is intended to facilitate more effective planning and targeted materials development. Key steps that have been taken to address critical areas include the initiation of multiple irradiation campaigns and advanced high heat flux testing of mock-up components.