Raw Materials are used to produce finished products, energy or intermediate materials that are feed-stock for future materials thus are part of a bill of materials. They are the basic materials from which a product is made.

They are chemicals or composite materials.

A Raw material can be bought to be repackaged to be sold.

A Raw material can be tolled by a manufacturer: In case of tolling, raw materials can be supplied or not to the toll manufacturer.

A finished product can also be tolled by a manufacturer.

A finished product can be bought to sold.

A finished product can also be a raw material.

Exception: Fuel feed-stock such as  natural gas, coke, anthracite, petroleum cake are considered as energy.