Material design is a visual design system introduced by Google that is used across platforms like Android and iOS. It uses principles of tactile materials like paper and ink and represents surfaces that interact in a shared space. Elements can have elevation and cast shadows to show relationships. Key aspects include a new theme, widgets for complex views, and APIs for custom shadows and animations. It imagines each user interface element as a sheet of paper that occupies a position in Z-space and can cast shadows below it.