What are recommendations to create material libraries in UE4?


Thanks in advance for any how to’s on best practice how to use material templates in UE4 with or without Datasmith?

Questions are: 1. If I have a full library of Arnold Materials and now I want to import all of them into Unreal and use them whenever, how should I go about that so they are ready to be used in any new project?
My guess is I would have to apply all materials on objects then export as fbx?

(I saw Arnold Materials in one of the lists in Datasmith imports somewhere, so I presume this is an option?)

I also have substance materials and would prefer to use Arnold materials, so I can render in 3ds max prior to importing into UE4 for walk through.