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Reliability , stiffness , strength ,Cost ,Corrosion,Wear ,Manufacturing Ability
Depending on the clients specifications, and the end user requirements the basic considerations would be :
Mechanical properties - reliability , stiffness , strength
Cost
Corrosion
Wear
Manufacturing Ability
Special material equirements are basically determined by client-end user.
ask client if he has guideline specifications, conduct meetings with client to collect his requirements, then search for similar projetcs needs.