Self contained material files?

Does Blender have support for exporting/importing materials? Like if I set up a material, and wanted to pass it to someone else, do I have to send them the entire blend file?
This was for Cycles and is probably outdated as of now but other party had just to run produced by addon python file from Text Editor, no additional addon installations were needed.
Script has further development and now both parties have to have addon installed.

Create a material or node group
Give it a fake user (F button)
Save blend file
Append the material / node group into a current file with Shift+F1