"Material Design", suggested by Google in 2014, is the name of a new visual language for Web page User Interface used on Google's platforms such as Chrome OS and the Web.
The overall look is summarized on http:thenextweb.com
The features of Material Design are to provide a bold, vibrant, and consistent look for visual products. It is intentional design where any motion used must provide meaning.
As you illustrate your button and its action, I do not believe it fits the Material Design guidelines.
Your button art is flat rather than appearing as a tangible surface apart from the background. A slight drop-shadow emphasizes the "feel" of real materials rather than artwork. A Material Design button appears to "BE" a button by virtue of the dimensional appearance as real material would.