The rapid development of new infrastructure programmes requires an accelerated deployment of new materials in new environments. Materials 4.0 is crucial to achieve these goals. The application of digital to the field of materials has been at the forefront of research for many years, but there does not exist a unified means to describe a framework for this area creating pockets of development. This is confounded by the broader expectations of a digital twin (DT) as the possible answer to all these problems. The issue being that there is no accepted definition of a component DT, and what information it should contain and how it can be implemented across the product lifecycle exist. Within this position paper, a clear distinction is made between the “manufacturing DT” and the “component DT”; the former being the starting boundary conditions of the latter. In order to achieve this, we also discuss the introduction of a digital thread as a key concept in passing data through manufacturing and into service. The stages of how to define a framework around the development of DTs from a materials perspective is given, which acknowledges the difference between creating new understanding within academia and the application of this knowledge on a per-component basis in industry. A number of challenges are identified to the broad application of a component DT; all lead to uncertainty in properties and locations, resolving these requires judgments to be made in the provision of safety-dependent materials property data.