Editing materials of objects in images based on exemplar images is an active area of research in computer vision and graphics. We propose MARBLE, a method for performing material blending and recomposing fine-grained material properties by finding material embeddings in CLIP-space and using that to control pre-trained text-to-image models. We improve exemplar-based material editing by finding a block in the denoising UNet responsible for material attribution. Given two material exemplar-images, we find directions in the CLIP-space for blending the materials. Further, we can achieve parametric control over fine-grained material attributes such as roughness, metallic, transparency, and glow using a shallow network to predict the direction for the desired material attribute change. We perform qualitative and quantitative analysis to demonstrate the efficacy of our proposed method. We also present the ability of our method to perform multiple edits in a single forward pass and applicability to painting.