scrap vs waste material

scrap and waste material both are nouns.

Word	Noun	Adjective	Verb	Adverb
scrap	Yes	No	Yes	No
waste material	Yes	No	No	No

As nouns, waste material is a hypernym of scrap; that is, waste material is a word with a broader meaning than scrap:

Other hypernyms of scrap include waste, waste matter, waste product.

scrap (noun)	waste material (noun)
the act of fighting; any contest or struggle	any materials unused and rejected as worthless or unwanted
a small piece of something that is left over after the rest has been used
a small fragment of something broken off from the whole
worthless material that is to be disposed of

scrap (verb)	waste material (verb)
make into scrap or refuse
have a disagreement over something
dispose of (something useless or old)