Yes! *FINALLY* somebody has written a decent material library manager for Blender. Awesome. Now all we need is a connection to an on-line materials repository :)
ShaderTools is a Material Library for Blender and includes more than four hundred and fifty materials. It uses an SQLite database to save and import materials.
You can export your material and to share easily.
It is currently a beta release but you can without problem use the material list includes to use them in your projects.